November 26, 2020

SoftBank CEO felt better after he claimed to exit the cryptocurrency

2 min read

Softbank CEO Masayoshi Son is a well-known investment tycoon in the industry, but the investment tycoon also has a time of fail, Son eventually suffered a huge loss after investing in Bitcoin.

Last year, there were rumors that Masayoshi Son had a huge loss of US$130 million in his investment in Bitcoin. Now the investment tycoon admits that he has lost US$50 million in his investment in Bitcoin. Masayoshi Son said that since investing in Bitcoin, he can’t focus on other investments with peace of mind.

According to a Wall Street Journal report, in an interview, Son confessed that since investing in Bitcoin, he has spent five minutes looking at the price every day. As a result, Bitcoin price fluctuations have caused no peace of mind.

“Masayoshi Son” by Danny Choo is licensed under CC BY-NC-SA 2.0

This distracted Son focuses on the SoftBank Group’s business. It is well known that many projects invested by the SoftBank Group in the past two years have suffered losses and make people doubt Masayoshi Son’s ability.

Although Masayoshi Son did not say whether the problems encountered by the SoftBank Group in recent years are related to its investment in Bitcoin, it is clear that Bitcoin does distract Masayoshi Son from investing.

Masayoshi Son said that at first, his friend said that he would spend 1% of his personal assets to invest in Bitcoin. According to Masayoshi Son’s worth at the time, the bitcoin investment was about 200 million US dollars.

However, the final loss was not the rumored US$130 million but US$50 million. Masayoshi Son said he felt much better after exiting all the bitcoins.