China’s Warren Buffett Duan Yongping Reveals $19 Million Stake in Circle

Duan Yongping, the Chinese billionaire investor often referred to as ‘China’s Warren Buffett,’ has disclosed a significant new position in Circle Internet Financial (CRCL), the company behind the USDC stablecoin. According to a U.S. Securities and Exchange Commission (SEC) 13F filing, Duan purchased 200,000 shares of Circle in the first quarter, valued at approximately $19 million.

Details of the Investment

The filing reveals that Duan Yongping, who serves as chairman of the Bubugao Group, acquired the shares at an average price of roughly $9,541 per share. While the $19 million stake is a substantial sum in absolute terms, it represents a relatively small portion of his overall portfolio, accounting for just 0.095% of his total reported holdings. The disclosure was first flagged by the blockchain news outlet Wu Blockchain.

Who is Duan Yongping?

Duan Yongping earned his nickname by emulating the value-investing principles of Berkshire Hathaway’s Warren Buffett. He is best known for his early and highly profitable investment in NetEase, as well as for founding the electronics and retail conglomerate Bubugao (BBK Electronics), which is the parent company of major Chinese smartphone brands Oppo and Vivo. His investment moves are closely watched by retail investors in China and globally, often moving markets in his home country.

Why This Matters for the Crypto Market

Duan’s investment in Circle is noteworthy for several reasons. First, it signals confidence from a traditional value investor in a company that is deeply integrated with the cryptocurrency ecosystem. Circle is the issuer of USDC, the second-largest stablecoin by market capitalization, and has been pursuing a public listing. Second, the disclosure comes at a time when regulatory clarity around stablecoins is increasing in the United States. The filing of a 13F, which is required for institutional investment managers with over $100 million in assets, provides a rare, transparent look into the holdings of a major investor who typically operates outside of public U.S. equity filings.

Conclusion

Duan Yongping’s $19 million bet on Circle represents a notable endorsement from a seasoned, conservative investor. While the position is small relative to his total wealth, it places a spotlight on Circle’s growth trajectory and the increasing mainstream acceptance of digital currency infrastructure. Investors will be watching for future filings to see if Duan increases his stake.

FAQs

Q1: What is a 13F filing?
A 13F is a quarterly report filed with the U.S. Securities and Exchange Commission (SEC) by institutional investment managers. It discloses their equity holdings, providing public insight into the portfolios of major investors.

Q2: What is Circle (CRCL)?
Circle Internet Financial is a global financial technology firm that issues USDC, a leading stablecoin pegged to the U.S. dollar. It also operates the payment and treasury infrastructure platform for digital assets.

Q3: Is this a large investment for Duan Yongping?
No. The $19 million stake represents only about 0.095% of his total reported investment portfolio, indicating it is a relatively small, exploratory position for the billionaire investor.