A Japanese billionaire talks about a $50 million loss in bitcoin trading.

20. November 2020 Von admin

The head of SoftBank, Massaesi Son, disclosed the details of the transaction, in which he invested about 1% of his personal assets in the crypt currency.

SoftBank CEO, billionaire Massaesi Son, speaking at the DealBook conference, spoke about the $50 million loss from bitcoin trading. According to Song, he invested 1% of his personal assets, about $200 million, in the first cryptovrency on the advice of a friend. However, this started to distract attention from the main business, so after a while the billionaire sold its digital assets, losing about $50 million, writes Business Insider.

However, in April last year WSJ reported, citing Bitcoin Circuit app knowledgeable sources, that the founder of SoftBank bought cryptovalue during the peak of the crypt market in December 2017, after which the rate of Bitcoin fell sharply, and the businessman sold it, recording a loss of $130 million. Sources have claimed that Son invested in digital money on the advice of billionaire Peter Brieger.

Now the head of one of the most active players in the venture capital market said he was feeling much better after selling Bitcoin. Son does not consider digital money unpromising, but now he is focusing on other projects.

„I think that digital currency will be useful. But I don’t know what kind of digital currency, with what structure and so on,“ he warned.

Sleep was one of the first major investors in Alibaba and Yahoo!, he is the founder of the Vision Fund, a $100 billion venture fund managed by Forbes, which is estimated at $32.8 billion.