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24 November 2020

Crypto will be useful but Bitcoin is hard to understand, says SoftBank CEO

Crypto will be useful but Bitcoin is hard to understand, says SoftBank CEO


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Masayoshi Son, a billionaire technology entrepreneur and CEO of Japanese conglomerate SoftBank, claimed that he “doesn't understand” Bitcoin amid the cryptocurrency breaking its three-year highs.

Speaking at the New York Times DealBook conference, Son said that he found Bitcoin investment to be “distracting his own focus on his own business,” Business Insider reported on Nov.

The billionaire said that the recurring distraction triggered him to sell all his Bitcoin stake, causing losses of around $50 million.

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