Japanese billionaire reveals $50 million loss on bitcoin trade

SoftBank CEO Masayoshi Son revealed the details of the deal, during which he invested about 1% of his money in cryptocurrencypersonal assets.

The CEO ofSoftBank, billionaireMasayo Son, speaking at the DealBook conference, told about the loss of $50 million fromAccording to Sohn, he invested 1% of his personal assets, about $200 million, in the first cryptocurrency on the advice of a friend.However, this began to divert attention from the core business, so after a while the billionairesold his digital assets, losing about $50 million on it, writesBusiness Insider.

At the same time, in April last year, the WSJ reported citing knowledgeable sources that the founder of SoftBank bought the cryptocurrency during the peak of the crypto market in December 2017, after which the bitcoin rate fell sharply, and the businessman sold it, recording a loss of $130 million.and claimed that Son invested in digital money on the recommendation of billionaire Peter Brig.

Now the head of one of the most active players in the venture market said that he began to feel much better after the sale of bitcoin.Sleep doesn't think digital money is unpromising, but is now focused on other projects.

"I think the digital currency will be a good one.But I don't know what kind of digital currency, what structure and so on," he warned.

Son was one of the first major investors in Alibaba and Yahoo!, and is the founder of the $100 billion Venture Fund Vision Fund.The fortune of the businessman Forbes estimates $32.8 billion.

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