Lessons for Bulls: Even Japan’s Greatest Tech Billionaire Got Rekt by the Crypto Bubble10

Masayoshi Son, the multi-billionaire founder of Japanese tech giant SoftBank, lost $130 million after making a huge personal investment in bitcoin at the worst possible time: late 2017, the peak of the crypto bubble. According to the Wall Street Journal, the investment was made at the urging of Peter Briger Jr., co-chairman of the private equity firm Fortress Investment Group.

Briger had good reason to be bullish. Fortress had been investing in bitcoin since 2013, and by late 2017 was seeing absolutely unheard-of returns on that investment. Son, unfortunately, got in late and (arguably) got out early, selling his stake in early 2018 after the bitcoin price had fallen at least some of the way back to earth.

Original source
https://breakermag.com/lessons-for-bulls-even-japans-greatest-tech-billionaire-got-rekt-by-the-crypto-bubble/

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