{"id":116309,"date":"2020-11-20T13:33:46","date_gmt":"2020-11-20T10:33:46","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/crypto-will-be-useful-but-bitcoin-is-hard-to-understand-says-softbank-ceo\/"},"modified":"2020-11-20T13:33:46","modified_gmt":"2020-11-20T10:33:46","slug":"crypto-will-be-useful-but-bitcoin-is-hard-to-understand-says-softbank-ceo","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/crypto-will-be-useful-but-bitcoin-is-hard-to-understand-says-softbank-ceo\/","title":{"rendered":"# Crypto will be useful but Bitcoin is hard to understand, says SoftBank CEO"},"content":{"rendered":"

“# Crypto will be useful but Bitcoin is hard to understand, says SoftBank CEO <\/strong>”
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While the ongoing cryptocurrency bull run is\u00a0boosting crypto adoption, some billionaire investors still find Bitcoin (BTC) to be something of a distraction.\u00a0<\/p>\n

Masayoshi Son, a billionaire technology<\/a> entrepreneur and CEO of Japanese conglomerate SoftBank, claimed that he \u201cdoesn’t understand\u201d Bitcoin amid the cryptocurrency breaking its three-year highs.<\/p>\n

Speaking at the New York Times DealBook conference, Son said that he found Bitcoin investment to be \u201cdistracting his own focus on his own business,\u201d Business Insider reported<\/a>\u00a0on Nov. 19.<\/p>\n

Son said that he would spend about five minutes each day watching Bitcoin prices fluctuate. Son noted that he was told by a friend to invest \u201c1% of his personal assets\u201d into Bitcoin, meaning he invested \u201cabout $200 million.”<\/p>\n

The billionaire said that the recurring distraction triggered him to sell all his Bitcoin stake, causing losses of around $50 million. \u201cI feel so much better,\u201d Son said of exiting Bitcoin.<\/p>\n

Son stated that digital currencies are a useful development and that they won’t go away anytime soon, but he will focus on other projects. He said:<\/p>\n

\u201cI think digital currency will be useful […] But I don’t know what digital currency, what structure, and so on.\u201d<\/p><\/blockquote>\n

Son reportedly bought Bitcoin when it was near its historic high of $20,000 in December 2017. As previously reported, Son allegedly lost millions by selling the cryptocurrency in early 2018 when the Bitcoin price subsequently started plummeting.<\/p>\n

Son\u2019s latest remarks come amid a major bullish trend in crypto markets, with Bitcoin inching closer to $20,000. At publishing time, Bitcoin is trading at $18,227, according to Cointelegraph\u2019s BTC price index.<\/p>\n<\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“# Crypto will be useful but Bitcoin is hard to understand, says SoftBank CEO ” While the ongoing cryptocurrency bull run is\u00a0boosting crypto adoption, some billionaire investors still find Bitcoin (BTC) to be something of a distraction.\u00a0 Masayoshi Son, a billionaire technology entrepreneur and CEO of Japanese conglomerate SoftBank, claimed that he \u201cdoesn’t understand\u201d Bitcoin…<\/p>\n","protected":false},"author":1,"featured_media":116310,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2020-11\/4fc85513-5761-4252-aad9-25aaae1af425.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74863,73711,20618,74124,4965],"class_list":["post-116309","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-cryptocurrencies","tag-investments","tag-japan","tag-softbank","tag-technology"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/116309","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=116309"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/116309\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/116310"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=116309"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=116309"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=116309"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}