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SoftBank Founder Masayoshi Son Lost $130 Million on Bitcoin
CRETech
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1 minute read
Masayoshi Son, the billionaire founder of SoftBank Group Corp. 9984 0.39% , 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.
