The Japanese investment giant Softbank dips back in crypto by supporting a new Bitcoin (BTC) investment vehicle, Twenty One Capital, along with Tether, BitFinex and Cantor Fitzgerald.

For some, the Softbank Group – which has $ 308.7 billion assets under management – is to take an interest in Bitcoin a welcome development and another sign of mounting institutional crypto -recording. After all, Softbank more or less works like a Japanese sovereign wealth fund, according to Jeff Park, head of Alfa strategies at Bitwise.

But for experienced observers it could be more of a déjà-vu than a breakthrough.

Flashback for 2019, Softbank made headlines when its founder, Masayoshi Son, took a gigantic loss on a personal Bitcoin investment.

Son had taken exposure to cryptocurrency in late 2017 when ICO Mania was at its highest and Bitcoin traded at a peak of about $ 20,000.

With Bitcoin, now trading for $ 93,000, Son’s investment would have been very profitable if he had been holding on. But he sold in early 2018 when Bitcoin began to go down, resulting in a loss of $ 130 million, according to the Wall Street Journal.

So the questions that investors could ask themselves now are would this time be different?

To find a clue, let’s take Oracle (Orcl) stock as an example. Recently, US President Donald Trump announced that Softbank would be part of a $ 100 billion push to build AI infrastructure in the United States in connection with Openai and Oracle (ORCL).

One would say that this is a bullish result for the ORCL share. When the announcement was published on January 22, the ORCL -Topping coincided to $ 188 per year. Share, the share fell 28%, while Nasdaq has fallen 12% in the same period.

Other external factors, including macro -mind and geopolitical excitement, could explain the underpretation. It can also only be a common coincidence. However, an analyst bound this Oracle sale to Softbank’s commitment to the AI ​​infrastructure project.

“When Softbank enters an asset you own, you sell. I don’t make the rules,” wrote Quinn Thompson, founder of Crypto Hedge Fund Lekker Capital, in a post of X, citing the Oracle repairs.