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Asia Crypto

Masayoshi Son Lost $130 Million on Bitcoin Investment

If, like many, you got burned on your crypto investments last year, this could cheer you up. Even one of the world’s savviest investors fell for the promise of a quick and easy return.

According to the Wall Street Journal, SoftBank founder Masayoshi Son made a personal investment in bitcoin in late 2017, when the cryptocurrency was surging in value. That was a bad time to invest. In January 2018, bitcoin’s price crashed, and Mr. Son sold in early 2018 at a $130 million loss.

With a net worth of around $19 billion, Mr. Son will be OK. But he might be hesitant to take any more tips from Peter Briger, the co-chairman of asset manager Fortress Investment Group, who apparently sold him on the investment.

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