Jack Ma is making a full-scale entry into cryptocurrency!

Friends around him are also working on wallets and public chains at Ant Group.

Jack Ma invested $44 million to buy 10,000 Ethereum (ETH).

At the same time, he publicly stated that he will not limit himself to ETH; they plan to include Bitcoin (BTC), Solana (SOL), and other mainstream coins in their strategic reserves.

He has also applied for and obtained a virtual asset trading service license.

Announced a formal entry into virtual asset trading, management, and on-chain financial services.

So, what level of entry is Jack Ma making this time?

1. Capital treasury: Using own funds to build a crypto asset treasury, without relying on financing or leverage.

2. Financial license + legal channels: Unlike regular exchanges operating in gray areas, they rely on Hong Kong’s comprehensive regulatory system to follow a compliant path.

3. Traditional finance + Web3 hybrid approach: Combining traditional insurance, securities, asset management businesses with crypto asset deployment—a mix of tradition and innovation.

4. Benchmarking the "future monetary system": Amid global central bank digital currency (CBDC), stablecoins, asset tokenization (RWA), and on-chain payments trends, seizing the entry point of "digital financial infrastructure."

Conspiracy theory version: What are they betting on?

Betting on stablecoins + fiat replacement + payment clearing systems—If stablecoins, digital assets, and blockchain payments are widely accepted, they can use their own licenses and capital structure to seize payment/asset management entry points.

Betting on regulatory easing + compliant on-chain boom—As places like Hong Kong promote legalization of virtual assets and improve licensing systems, they hope to become pioneers of "regulator-approved + on-chain infrastructure."

Betting on bubbles + media effect—Using the "Jack Ma ecosystem + Web3 + blockchain + digital finance" label to attract retail investors/funds, rapidly drive up valuations/stock prices, and pave the way for more financial/insurance/asset management products.

Betting on future asset tokenization (RWA) + on-chain securitization—Not just crypto-to-crypto or derivatives; they may want to put traditional assets, insurance, securities, and funds all on-chain, forming a "chain + asset + securities" closed loop.