• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Price & Market
Cap Data from
Nomics Logo Nomics Logo
Bitcoinist.com
Join Student Coin ICO
No Result
View All Result
  • Home
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Trade
  • Play Games
  • Mining
  • Home
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Trade
  • Play Games
  • Mining
Bitcoinist.com
No Result
View All Result
bitcoin gamble
Nexo

‘Japan’s Warren Buffet’ Loses $130 Million in Bitcoin

Matthew North by Matthew North
2 years ago
in Bitcoin, News, News teaser
0

One of Japan’s most infamous entrepreneurs, Masayoshi Son, lost USD $130 million during the Bitcoin correction that occurred in 2017. 


Masayoshi Son was dubbed “Japan’s Warren Buffet” in an opinion piece posted by Nikkei Asian Review. His company, Softbank, has invested over $100 billion into companies such as Uber, WeWork and other companies based in Silicon Valley.

Son’s investment experience apparently didn’t prepare him for the massive whipsaw coming his way when the Bitcoin market overheated in 2017. According to The Wall Street Journal, Son bought into BTC as it neared its all-time high near $20,000. Son would later close his positions as the Bitcoin hysteria died down and lost USD $130 million in the aftermath.

Remarking on Son’s decision to invest in Bitcoin, Nikkei suggested that Son forgot “Buffet’s 101 lesson to never invest in something you don’t understand.”

The Pessimism of Billionaires

Buffet himself has shown to be strongly anti-crypto in statements released to the media. In 2018 he stated that “cryptocurrencies will come to bad endings. There is nothing being produced in the way of value in the asset.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Also, in the past, Buffet has called bitcoin “rat poison squared.” Although in October 2018 Buffet would have an apparent change of heart. As Bitcoinist reported, Buffet’s Berkshire Hathway invested $600 million in two fintech payment firms that were not too distant from the blockchain landscape.

These decisions by Buffet and Son show the divergence of opinion between business leaders as well as the broader views held between the eastern and western economies.

bitcoin Berkshire Hathaway Warren Buffett

Japan’s Blockchain Paradox

In the Nikkei Asian Review, Japan’s position was described as a paradox as it attempts to strike a balance between innovation, accountability, and regulations.

These facts were highlighted by the Mt.Gox hack that occurred in 2014 as well as the case of Coincheck in 2018. It’s events like these that seemingly cause a need for tighter regulations and controls — while the Yen continues to compete with the dollar in top bitcoin trading.

Nikkei also notes how the cultural differences between the countries could be impacting the growth of bitcoin in the country.

japan crypto

Outlook Remains Positive

Despite these exchange hacks, setbacks, and national bureaucracy, the nation appears to be “on the right path.”

For example, the Financial Services Agency (FSA) in Japan is reportedly working closely with revised regulations to better protect investors.

Furthermore, greater clarity around the legality of bitcoin and other virtual assets is expected by late June when international leaders meet in Japan for the G20 summit. The issue cryptocurrencies, in particular, is claimed to be on the agenda.

What do you think of Japan’s stance towards cryptocurrencies? Lets us know in the comments! 


Images courtesy of Shutterstock.

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Matthew North

Matthew North

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
© 2021 Bitcoinist.com. All Rights Reserved.
  • Home
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Trade
  • Play Games
  • Mining

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.