TechFlow News — According to JP.Cointelegraph on November 20, SoftBank Group CEO Masayoshi Son said at the New York Times Summit that Bitcoin is "incomprehensible." Son stated he previously invested $200 million, amounting to 1% of his personal wealth. However, since investing in Bitcoin, he found himself distracted by watching its price fluctuate every five minutes, which hindered his focus on business. After stopping his Bitcoin investments, he said he has "become better." He also remarked, "I find digital currencies useful, but I don't understand what kind of digital currencies they are or what factors cause them."
In April 2019, media reports indicated that SoftBank founder Masayoshi Son invested in Bitcoin near the end of 2017, when prices were approaching Bitcoin's all-time high of nearly $20,000, and sold early in 2018 after the price crash, incurring a loss of $130 million. Sources said Son was encouraged to invest in Bitcoin by Peter Briger, co-chairman of Fortress Investment Group.
