Warning: Trying to access array offset on value of type bool in /www/wwwroot/internewscast.com/wp-content/themes/spotlight/inc/template-tags.php on line 135
">
Share this @internewscast.com

The world of cryptocurrencies can be extremely confusing to outsiders and amateur investors. But don’t feel bad if you feel like it’s too confusing for you to master, since billionaire Softbank CEO Masayoshi Son recently told the story of how he lost (by some reports) as much as $130 million on his own Bitcoin experiment, a loss that he attributes to the fact that he “doesn’t understand” the volatile cryptocurrency.

Unilad reports that Son recently spoke at the online DealBook conference from The New York Times, telling the tale of how he tried and failed to master Bitcoin during his downtime. But the story actually broke last year, when The Wall Street Journal reported on Son’s Bitcoin investment and his eventual exit from the world of cryptocurrency trading sometime in 2018.

Koki Nagahama/Getty Images

As the story goes, a “Bitcoin evangelist” and friend of Son’s encouraged him to invest at least one percent of his assets into bitcoins, which at the time came to about $200 million. After spending what he says was about five minutes a day checking Bitcoin’s sometimes sudden drops and spikes in value, he found it “distracting his focus on his own business” and decided to cash out. Son’s own estimate of his losses comes to $50 million, but finance news outlets have it closer to $130 million, but regardless of the final tally, Son says he has no regrets about leaving Bitcoin to the experts, and that he felt “so much better” after calling it quits. He also doesn’t dismiss the potential value in cryptocurrencies like Bitcoin, even if Bitcoin itself ends up bottoming out:

“I think digital currency will be useful. But I don’t know what digital currency, what structure, and so on.”

Bitcoin has seen some recent good news though, with record high prices and the announcement that PayPal users are now able to deal in bitcoins on the platform. But you’re still not likely to see Masayoshi Son make any big investments in it any time soon.

Source:

Share this @internewscast.com
You May Also Like

Elena Huelva Cancer Treatment: Is She Well Now? Met Her Parents

Elena Huelva Cancer Treatment: Is She Well Now? Elena Huelva’s health has…

What Does Jalen Suggs Tattoo Design Mean?

What Does Jalen Suggs Tattoo Design Mean?  Jalen Suggs’ tattoos are not…

Does Gail Porter Have Cancer? Bald Hair Reason Revealed

Does Gail Porter Have Cancer – What Causes Gail Porter’s Baldness? People…

Who Is Andrea Di Stefano Wife Anissa Bonnefont? Net Worth & Family Explored

Andrea Di Stefano Wife is also an actor-writer-director. She has directed several…

Is Michelle Trachtenberg Married To Her Boyfriend Jay Cohen? Husband, Family, & Net Worth

Is Michelle Trachtenberg Married or not? Any topic related to her Husband is…

Salary Goooal!!!!! These Are Five Highest Paid Players At The 2022 World Cup

Even with all the controversy surrounding this year’s event in Qatar, the…

Car Accident – Is AJ Walker Dead Or Still Alive? Net Worth Info

Car Accident – Is AJ Walker Dead Or Still Alive? Fans are…

Is Pele Still Alive? Cancer Illness Update, & Family Background

Is Pele Still Alive? Pele death news has been making its round…

Karamo Brown And Ian Jordan Break Up Reason: What Happened? Dating Life Now

Karamo Brown And Ian Jordan Break Up in June, as he revealed…

Jorge Labarga Net Worth And Earning: How Rich Is He Now?

The fans have heavily inquired about Jorge Labarga Net Worth as people…

Tim Henson Parents And Family: Where Are They From? Nationality, Ethnicity & Net Worth

Tim Henson parents are also from the music industry but could not…

Was Julia Haart Fired After Filing For Divorce? What Happened -Why?

Was Julia Haart Fired After Filing For Divorce? For the past few…