SoftBank Founder Masayoshi Son Lost $130 Million on Bitcoin
Japanese billionaire made a huge personal investment in the digital currency as prices peaked
Last year, Didi Taihuttu sold almost everything he owned, poured it into bitcoin and moved his family into a trailer park. In this episode of Moving Upstream, WSJ's Thomas Di Fonzo goes on a year-long journey with the "Bitcoin Family" as they bet everything on a decentralized cryptocurrency future.
Rachael Levy and
Liz Hoffman
BiographyLiz Hoffman
@lizrhoffman
liz.hoffman@wsj.com
Updated April 23, 2019 6:58 pm ET
Masayoshi Son, the billionaire founder of SoftBank Group Corp., 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.