Topic: SoftBank Founder Masayoshi Son Lost $130 Million on Bitcoin - page 2. (Read 368 times)
Rookie mistakes for someone who can be considered as a veteran in investing. I don't blame him if he has to bail out and just bear the losses since he has a lot of ventures to put his time and money to, as others have surely done that before especially those who are stuck on levels that they can't seem to get out of without losing money. Anyways, Masayoshi Son is a prime example of FOMO done wrong. A short scan of the graphs would already show you things that will tell you that it isn't going to hold, yet he still continued to release the trigger anyways, resulting to losses on his part.
https://www.wsj.com/articles/softbank-founder-masayoshi-son-lost-130-million-on-bitcoin-11556017200
His mistake was selling when he should have held and waited till the next halvening and next bull run.
Quote
Masayoshi Son, the billionaire founder of SoftBank Group Corp., 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.
His mistake was selling when he should have held and waited till the next halvening and next bull run.
A lot of really rich people are fucking dumb. Serves him right for acting like a total douche, I guess.
Can't read the full the article, but from what I can gather, he bought btc during the bull run (probably at its peak), strange how someone like him would make such a newbie mistake: give in to FOMO and then panic sell during the drop. Then again, $130M is pocket money to someone who's net worth is around $23 billion and is among the richest man in the world...Makes me wonder if there are other billionares out there who made the same mistake but haven't made it public.
The best he need to is be patient and we know it is works. I think his knowledge about crypto is incomplete if he bought bitcoin in the year 2017 whebn the value is very high he did not going to sell his bitcoin to not lose most of his money that's huge amount of money and if you are billionaire person I think it is one of the biggest mistake you do in your life.
Masayoshi Son is one of the examples of those bitcoin bandwagoners. He bought bitcoin late last 2017 when bitcoin was at ATH. I guess billionaires can't wait much too long to have their investment back that's why he sold his bitcoin at 5kish.
What I have seen here is two factors that lead to masayoshi son lose in bitcoin, first he followed the advice of a bitcoin market booster which is very wrong because in a volatile market such as bitcoin there is no professional analyst that can give 100% prediction on the future of bitcoin market and secondly haven invested in middle of 2017 when the price was heading to the sky he should have hold his bitcoin when is has gone down and already running at lost. Because you only lose when you sale below cost price so in his best interest he should have considered hodling till the market recover before selling.
Son has very good experience on investment, I do not think that his decision to buy bitcoin was because he followed a professional analyst or expert or anything. Anyway, the amount lost is not that big for him imho, as his SoftBank has total asset value estimated $190 Billion. Indeed lose is still a lose but I do believe he sold it at that position with a reason, although we do not know what the reason is.
I don't think he will ever think about investing in this market ever again.
His mistake was selling when he should have held and waited till the next halvening and next bull run.
Don't you know the golden rule of investing in bitcoin or cryptocurrencies in general? Buy high, sell low!
What I have seen here is two factors that lead to masayoshi son lose in bitcoin, first he followed the advice of a bitcoin market booster which is very wrong because in a volatile market such as bitcoin there is no professional analyst that can give 100% prediction on the future of bitcoin market and secondly haven invested in middle of 2017 when the price was heading to the sky he should have hold his bitcoin when is has gone down and already running at lost. Because you only lose when you sale below cost price so in his best interest he should have considered hodling till the market recover before selling.
Son has very good experience on investment, I do not think that his decision to buy bitcoin was because he followed a professional analyst or expert or anything. Anyway, the amount lost is not that big for him imho, as his SoftBank has total asset value estimated $190 Billion. Indeed lose is still a lose but I do believe he sold it at that position with a reason, although we do not know what the reason is.
I think Masayoshi son have not enough knowledge in doing bitcoin business activity because he do not know how to handle that situation. That is one requirements here in crypto industry is being knowledgable about bitcoin activity specially in terms of buy and sell or bitcoin trading. In this industry if you have lack of knowledge about the business or crypto there is big possibility of loss.
What I have seen here is two factors that lead to masayoshi son lose in bitcoin, first he followed the advice of a bitcoin market booster which is very wrong because in a volatile market such as bitcoin there is no professional analyst that can give 100% prediction on the future of bitcoin market and secondly haven invested in middle of 2017 when the price was heading to the sky he should have hold his bitcoin when is has gone down and already running at lost. Because you only lose when you sale below cost price so in his best interest he should have considered hodling till the market recover before selling.
Are you joking? I even believing they have their own strategist on crypto yet you said they following some uncertain resources? Anyway, we never know what he is thinking about losing this number, may be he can recover or may be get some big profit on others markets or shares which is cost him losing this much is pretty normal thing. If you think they deliberately losing this money on bitcoin without having desire to getting it back then the SoftBank name will mean nothing
What I have seen here is two factors that lead to masayoshi son lose in bitcoin, first he followed the advice of a bitcoin market booster which is very wrong because in a volatile market such as bitcoin there is no professional analyst that can give 100% prediction on the future of bitcoin market and secondly haven invested in middle of 2017 when the price was heading to the sky he should have hold his bitcoin when is has gone down and already running at lost. Because you only lose when you sale below cost price so in his best interest he should have considered hodling till the market recover before selling.
https://www.wsj.com/articles/softbank-founder-masayoshi-son-lost-130-million-on-bitcoin-11556017200
His mistake was selling when he should have held and waited till the next halvening and next bull run.
Quote
Masayoshi Son, the billionaire founder of SoftBank Group Corp., 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.
His mistake was selling when he should have held and waited till the next halvening and next bull run.
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