Founder of SoftBank Group, Japanese Billionaire lost $130 million on investing in Bitcoin
- Masayoshi Son, a billionaire from Japan, invested in Bitcoin at the peak highs and has reportedly lost over $130 million, after selling it when it had plummeted.
- The report being run by Wall Street Journal, citing people familiar with the matter.
Founder of multinational conglomerate SoftBank Group, Masayoshi Son, a well-known Japanese billionaire, has reportedly lost over $130 million with his Bitcoin (BTC) investment, according to reports run in Wall Street Journal.
Citing people familiar with the matter within the WSJ report, are claiming that Son had invested upon the recommendation of Peter Briger, the co-chairman of asset management company Fortress Investment Group. Fortress Investment were reported to have bought Bitcoin in 2013; this is when SoftBank bought Fortress in February 2017, its holdings (including crypto) were worth more than $150 million.
Son is suggested to have invested in the number one cryptocurrency by market cap when it was near its $20,000 all-time-high in late 2017, and sold in early 2018 after the price had already been victim of a chunky plummet south.
Author
Ken Chigbo
Independent Analyst
Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.
