Even the best get burned
The billionaire founder of SoftBank lost $130 million of his own money by buying Bitcoin near the peak and later selling it, according to a Dow Jones report.
Masayoshi Son has made SoftBank the fourth-largest publically traded company in Japan via investments in many tech companies including Alibaba, Sprint, Yahoo Japan.
While the loss sounds catastrophic, it's only a small portion of Masayoshi Son's estimate fortune of $18.8 billion. Bloomberg ranks him as the 55th richest person.
He "made the investment at the recommendation of a well-known bitcoin booster, whose investment firm SoftBank bought in 2017, the people said," according to the report.
