One of Japan’s most infamous entrepreneurs, Masayoshi Son, lost USD $130 million during the Bitcoin correction that occurred in 2017.
Masayoshi Son was dubbed “Japan’s Warren Buffet” in an opinion piece posted by Nikkei Asian Review. His company, Softbank, has invested over $100 billion into companies such as Uber, WeWork and other companies based in Silicon Valley.
Son’s investment experience apparently didn’t prepare him for the massive whipsaw coming his way when the Bitcoin market overheated in 2017. According to The Wall Street Journal, Son bought into BTC as it neared its all-time high near $20,000. Son would later close his positions as the Bitcoin hysteria died down and lost USD $130 million in the aftermath.
Remarking on Son’s decision to invest in Bitcoin, Nikkei suggested that Son forgot “Buffet’s 101 lesson to never invest in something you don’t understand.”
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