SoftBank Founder to Lose $130M Due to BTC Investment

Masayoshi Son bought Bitcoin at the peak price and sold in the beginning of 2018
23 April 2019   647

Billionaire and head of the Japanese media corporation SoftBank Masayoshi Son made a major bet on the growth of Bitcoin during its price peak, which led to losses of more than $ 130 million, The Wall Street Journal reports, citing informed sources.

The exact amount of investment is unknown. However, the publication reports that Son acquired “digital gold” at the end of 2017, when BTC price confidently moved to around $ 20,000. Against the background of a sharp fall in early 2018, the investor got rid of the asset, fixing the loss.

Masayoshi Son is famous for his extreme risk appetite. So, at one time he invested in the Alibaba Group after a five-minute conversation with its founder, Jack Ma. Also, Son decided to invest $ 200 million in a startup dealing with solutions for growing vegetables indoors, thinking only about 30 minutes.

Some time ago, SoftBank's investment division sold Nvidia shares for $ 3.6 billion. The decision was made after a significant reduction in the capitalization of the manufacturer of video cards.

Bitifinex to Cooperate With Bitrefill

Exchange's users will be able to purchase products from the Bitrefill catalog with help of Lightning Network
05 December 2019   51

The Bitfinex cryptocurrency exchange has entered into a partnership with the service of replenishing mobile accounts and gift certificates Bitrefill.

Using Lightning Network (LN) technology, Bitfinex users will be able to purchase products from the Bitrefill catalog, which includes more than 2,000 digital gift cards and options for replenishing mobile accounts.

As soon as the user pays for the goods using Bitcoin, Bitfinex and Bitrefill automatically settle through the LN network, which makes transactions cheaper and much faster.

Bitcoin’s use as a means of payment represents an important milestone in the inevitable journey towards mass adoption. This is why the Lightning Network is so important. As an exchange, Bitfinex is at the forefront of developing solutions utilizing this technology.

Paolo Ardoino

CTO, Bitfinex

On December 3, Bitfinex integrated payment support through the Lightning Network.