Masayoshi Son’s not having the greatest of years in recent times. His storied $50 billion venture fund saw massive losses in 2019, with budding startups WeWork and Uber seeing devaluations of billions of dollars on their mark up prices.
But Son’s personal investments didn’t do so well either. As per a new report by Business Insider, the Japanese tycoon booked a staggering $130 million loss on his Bitcoin investment back in 2018 after reportedly buying $200 million worth of the pioneer cryptocurrency.
His reason? Getting distracted often by the asset’s volatility.
Bitcoin’s volatility is not for weak stomachs. It remains in price discovery mode, twelve years after launch, and is known to fluctuate by several percentage points a day. And while this is advantageous to small investors seeking volatility to build their portfolio—it could mean seeing a portfolio change of tens of millions of dollars each day for old-school investors like Son, leading to risk issues.
