SoftBank's Masayoshi Son lost $130m in mistimed bitcoin bet

Investment blemish for Japanese billionaire who bought into cryptocurrency near its peak

20190424 softbank son

Softbank CEO Masayoshi Son

NEWYORK/TOKYO/LONDON (Financial Times) -- Masayoshi Son, founder of SoftBank Group, lost more than $130m in a personal bet on bitcoin, buying near the cryptocurrency's record high and selling after it tumbled, according to people with knowledge of the matter.

The loss represents a blemish for the Japanese billionaire, who has won the backing of investment funds across the Gulf as well as blue-chip companies such as Apple to seed the largest venture capital fund ever raised.

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