SoftBank Billionaire CEO Still Doesn’t Understand Bitcoin After A $50M Investment Loss

SoftBank Billionaire CEO Still Doesn’t Understand Bitcoin After A $50M Investment Loss

Gate Trade News Saturday, November 21, 2020 18 0

SoftBank Group founder and CEO believes digital currencies will have a role in the digitizing world but he still can’t understand Bitcoin.

 

Masayoshi Son, the founder, and CEO of the giant Japanese multinational conglomerate SoftBank Group, has lost millions from buying Bitcoin high and selling it low. 

 

In a recent speech, he also admitted that he doesn’t understand how the cryptocurrency works, but he believes some digital asset will have a role in the future.

 

The 63-year old Japanese billionaire and philanthropist recently spoke about his regrets, especially financial misfortunes, during The New York Times’ DealBook conference.