Billionaire Softbank founder lost millions on Bitcoin – The Wall Street Journal

DUBLIN – As Bitcoin prices have recovered from their late-December 2018 low of $2,900 to today's $5,000, it's worth reflecting again on the dangers of market timing. One of the most common mistakes that we make as investors is to follow the herd and buy when everyone else is buying. Indeed, it is the very fact that we do this that pushes prices upward. Rising prices are often little more than herd momentum. And, as the story below illustrates, it doesn't matter who you are, we are all susceptible to this bad habit. Let the tale of Masayoshi Son – whose legendary investment acumen has turned him into a billionaire – serve as a reminder to us all that pride comes before a fall… in asset prices. – Felicity Duncan

SoftBank Founder Masayoshi Son Lost $130 Million on Bitcoin

By Rachael Levy and Liz Hoffman

(The Wall Street Journal) Masayoshi Son, the billionaire founder of SoftBank Group, made a huge personal bet on bitcoin just as prices for the digital currency peaked, losing more than $130 million when he sold out, according to people familiar with the matter.

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