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Softbank founder Masayoshi Son lost $130 million on bitcoin bet

Masayoshi Son previously bitcoin loss shows that even some of the world's most sophisticated and wealthiest investors got caught up in the frenzy.

Rachael Levy & Liz Hoffman | Wall Street Journal 

Masayoshi Son, the billionaire founder of SoftBank Group Corp., made a huge personal bet on bitcoin just as prices for the digital currency peaked, losing more than $130 million when he sold out, according to people familiar with the matter. Mr.

Son, who launched the world’s biggest venture-capital fund on the strength of his long-term investing acumen, made the investment in late 2017 at the recommendation of a well-known bitcoin booster, whose investment firm SoftBank bought that year, the people said. The exact size of the bet couldn’t be determined, but it came at ...

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First Published: Wed, April 24 2019. 16:23 IST
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