SoftBank Founder Masayoshi Son Lost $130 Million on Bitcoin

[alyssa85]

https://www.wsj.com/articles/softbank-founder-masayoshi-son-lost-130-million-on-bitcoin-11556017200

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.

His mistake was selling when he should have held and waited till the next halvening and next bull run.

[Yara1]

What I have seen here is two factors that lead to masayoshi son lose in bitcoin, first he followed the advice of a bitcoin market booster which is very wrong because in a volatile market such as bitcoin there is no professional analyst that can give 100% prediction on the future of bitcoin market and secondly haven invested in middle of 2017 when the price was heading to the sky he should have hold his bitcoin when is has gone down and already running at lost. Because you only lose when you sale below cost price so in his best interest he should have considered hodling till the market recover before selling.

[BTCevo]

What I have seen here is two factors that lead to masayoshi son lose in bitcoin, first he followed the advice of a bitcoin market booster which is very wrong because in a volatile market such as bitcoin there is no professional analyst that can give 100% prediction on the future of bitcoin market and secondly haven invested in middle of 2017 when the price was heading to the sky he should have hold his bitcoin when is has gone down and already running at lost. Because you only lose when you sale below cost price so in his best interest he should have considered hodling till the market recover before selling.

Are you joking? I even believing they have their own strategist on crypto yet you said they following some uncertain resources? Anyway, we never know what he is thinking about losing this number, may be he can recover or may be get some big profit on others markets or shares which is cost him losing this much is pretty normal thing. If you think they deliberately losing this money on bitcoin without having desire to getting it back then the SoftBank name will mean nothing

[lyks15]

I think Masayoshi son have not enough knowledge in doing bitcoin business activity because he do not know how to handle that situation. That is one requirements here in crypto industry is being knowledgable about bitcoin activity specially in terms of buy and sell or bitcoin trading. In this industry if you have lack of knowledge about the business or crypto there is big possibility of loss.

[Bitinity]

What I have seen here is two factors that lead to masayoshi son lose in bitcoin, first he followed the advice of a bitcoin market booster which is very wrong because in a volatile market such as bitcoin there is no professional analyst that can give 100% prediction on the future of bitcoin market and secondly haven invested in middle of 2017 when the price was heading to the sky he should have hold his bitcoin when is has gone down and already running at lost. Because you only lose when you sale below cost price so in his best interest he should have considered hodling till the market recover before selling.

Son has very good experience on investment, I do not think that his decision to buy bitcoin was because he followed a professional analyst or expert or anything. Anyway, the amount lost is not that big for him imho, as his SoftBank has total asset value estimated $190 Billion. Indeed lose is still a lose but I do believe he sold it at that position with a reason, although we do not know what the reason is.

[mk4]

His mistake was selling when he should have held and waited till the next halvening and next bull run.

Don't you know the golden rule of investing in bitcoin or cryptocurrencies in general? Buy high, sell low!

[Haunebu]

What I have seen here is two factors that lead to masayoshi son lose in bitcoin, first he followed the advice of a bitcoin market booster which is very wrong because in a volatile market such as bitcoin there is no professional analyst that can give 100% prediction on the future of bitcoin market and secondly haven invested in middle of 2017 when the price was heading to the sky he should have hold his bitcoin when is has gone down and already running at lost. Because you only lose when you sale below cost price so in his best interest he should have considered hodling till the market recover before selling.

Son has very good experience on investment, I do not think that his decision to buy bitcoin was because he followed a professional analyst or expert or anything. Anyway, the amount lost is not that big for him imho, as his SoftBank has total asset value estimated $190 Billion. Indeed lose is still a lose but I do believe he sold it at that position with a reason, although we do not know what the reason is.

He probably must have lost faith that the value would rise back up at some point and was prepared to bear the losses which is why he decided to take such a drastic step. It is a small dent in his portfolio, but is a dent nevertheless.

I don't think he will ever think about investing in this market ever again.

[alisafidel58]

Masayoshi Son is one of the examples of those bitcoin bandwagoners. He bought bitcoin late last 2017 when bitcoin was at ATH. I guess billionaires can't wait much too long to have their investment back that's why he sold his bitcoin at 5kish.

[bitcoin31]

The best he need to is be patient and we know it is works. I think his knowledge about crypto is incomplete if he bought bitcoin in the year 2017 whebn the value is very high he did not going to sell his bitcoin to not lose most of his money that's huge amount of money and if you are billionaire person I think it is one of the biggest mistake you do in your life.

[tomahawk9]

Can't read the full the article, but from what I can gather, he bought btc during the bull run (probably at its peak), strange how someone like him would make such a newbie mistake: give in to FOMO and then panic sell during the drop. Then again, $130M is pocket money to someone who's net worth is around $23 billion and is among the richest man in the world...Makes me wonder if there are other billionares out there who made the same mistake but haven't made it public.

[DeathAngel]

https://www.wsj.com/articles/softbank-founder-masayoshi-son-lost-130-million-on-bitcoin-11556017200

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.

His mistake was selling when he should have held and waited till the next halvening and next bull run.

A lot of really rich people are fucking dumb. Serves him right for acting like a total douche, I guess.

[dothebeats]

Rookie mistakes for someone who can be considered as a veteran in investing. I don't blame him if he has to bail out and just bear the losses since he has a lot of ventures to put his time and money to, as others have surely done that before especially those who are stuck on levels that they can't seem to get out of without losing money. Anyways, Masayoshi Son is a prime example of FOMO done wrong. A short scan of the graphs would already show you things that will tell you that it isn't going to hold, yet he still continued to release the trigger anyways, resulting to losses on his part.

[bustedsynx]

Can't read the full the article, but from what I can gather, he bought btc during the bull run (probably at its peak), strange how someone like him would make such a newbie mistake: give in to FOMO and then panic sell during the drop. Then again, $130M is pocket money to someone who's net worth is around $23 billion and is among the richest man in the world...Makes me wonder if there are other billionares out there who made the same mistake but haven't made it public.

Just goes to show you there are a lot of people who are extremely rich but completely dumb about markets. Personally I knew someone who bought 250BTC when it was just $200 each. He then bought a lot of altcoins and lost when they crashed. He had 25BTC left and sold all for $250 each.

I told him to hodl until $10,000 but he did not. He must be having regrets until now.

[Kemarit]

Oh well, I guess he is one of those irrational buyers during the December peak, everyone was calling that Bitcoin has formed a bubble already but people are still dumb and still buying and pushing the price because they think it will still go parabolic. But I'm sure he has other investments as well and will probably cover that lost in about a year. But for us mere mortals, we really need to be careful before throwing out money in a market wherein the price is very unpredictable.

[pawanjain]

Well this is a clear example of how rich people make silly mistakes 
It might be true that the amount of loss Son faced would not be a big deal for him but it shows us that we might make a wrong decision in the right time.
If he would not have sold it at low price,  he could have got the opportunity to sell it a higher price. May be things went wrong with him but learning from other's mistakes is what we should do right now.

[BitBustah]

Don't feel sorry for him, hes still super wealthy.  What about the people that went completely broke and are living on the streets.

Anyways all he had to do was hold and he wouldn't of lost a cent but I guess he lacked the patience.

[avikz]

https://www.wsj.com/articles/softbank-founder-masayoshi-son-lost-130-million-on-bitcoin-11556017200

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.

His mistake was selling when he should have held and waited till the next halvening and next bull run.

Why does it bother anyone at all?? A lot of people had taken loan from credit card to buy bitcoin back in late 2017 and still neck deep in debt! They also could have awaited till the next bull run!

But the son of the billionaire is still a billionaire! Nothing really matters to him! So why the news have any significance?

[mk4]

A lot of really rich people are fucking dumb. Serves him right for acting like a total douche, I guess.

To be fair, for a bank owner? The $130m is likely to not be a significant amount of money for Masayoshi Son. I mean, the dude has a net worth of $24 BILLION for Jeebus sake. Compared to us, the $130m he lost might just be like an equivalent of a poker night for us.


Source: https://en.wikipedia.org/wiki/Masayoshi_Son

[XCANA]

There is an ultimate rule in the world of cryptocurrency which every investor should stick to "Buy when its low and sell when it's high", Billionaire son Masayoshi forget these rule and got trapped. Let him be very much aware that Bitcoin is far different from the traditional way of investment as the cryptocurrency is volatile. This will be a lesson to other investors to alway hold when the market is down.

[XCANA]

Don't feel sorry for him, hes still super wealthy.  What about the people that went completely broke and are living on the streets.

Anyways all he had to do was hold and he wouldn't of lost a cent but I guess he lacked the patience.

Well, that's the simple truth, that he was unable to hold make him run at lost. Although supper rich, personally; i feel sorry for him to loose such huge amount, even though to him is a small amount. Nothing is more rewarding than the power of hold in the world of cryptocurrency investment. Actually, there are coins am holding and will hold till the market comes up.