{"id":248830,"date":"2021-05-13T12:57:00","date_gmt":"2021-05-13T09:57:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/softbank-founder-hesitant-on-bitcoin-but-says-it-cant-be-ignored\/"},"modified":"2021-05-13T12:57:00","modified_gmt":"2021-05-13T09:57:00","slug":"softbank-founder-hesitant-on-bitcoin-but-says-it-cant-be-ignored","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/softbank-founder-hesitant-on-bitcoin-but-says-it-cant-be-ignored\/","title":{"rendered":"# SoftBank founder hesitant on Bitcoin but says it \u2018can\u2019t be ignored\u2019"},"content":{"rendered":"

“# SoftBank founder hesitant on Bitcoin but says it \u2018can\u2019t be ignored\u2019 <\/strong>”
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Tesla\u2019s tag game<\/a> with Bitcoin (BTC) might have triggered a race in the corporate world to invest in crypto, however, SoftBank still prefers to take a more cautious app<\/a>roach. Answering questions at SoftBank\u2019s earnings news<\/a> conference, SoftBank CEO Masayoshi Son admitted that he doesn\u2019t know whethe crypto is good or bad.<\/p>\n

\u201cThere\u2019s a lot of discussion over if it\u2019s a good thing or a bad thing, what\u2019s the true value or is it in a bubble \u2014 honestly speaking, I don\u2019t know,\u201d Son said<\/a>, according to Bloomberg.<\/p>\n

Son did not comment on the high-volume Bitcoin\u00a0purchases made by major companies, such as Tesla and Square. Comparing cryptocurrencies to more traditional commodities, he said:<\/p>\n

\u201cThe popularity of cryptocurrency has made it into a platform that can\u2019t be ignored, like diamonds and bonds.\u201d<\/p><\/blockquote>\n

He also added that SoftBank is always having internal discussions on cryptocurrencies, and there\u2019s no need to reject them. <\/p>\n

Last year, Son\u00a0mentioned that he was dedicating about five minutes a day to\u00a0watch how the Bitcoin price fluctuates. But that has proved to be a distraction, preventing him from focusing on his own business, he said. Son also reportedly lost $130 million from his Bitcoin investment in 2019.<\/p>\n

Earlier this year, SoftBank Group\u2019s telecommunications arm became a member of the Japanese Security Token Association, a group of advocacy and self-regulatory bodies that exist within the Japanese cryptocurrency and blockchain space.<\/p>\n

Known as an early adopter of Bitcoin and cryptocurrencies in general<\/a>, Japan\u2019s financial ecosystem seems to be focusing on the blockchain part of crypto lately. Three major banks in the country are collaborating with private sector participants on an experiment with a digital yen. This is a move to speed up the adoption of cashless payments in the country, where cash still accounts for about 80% of total transactions.<\/p>\n