wry Posted July 8, 2019 #1 Posted July 8, 2019 Talk about a blast from the past - Mt Gox! It's been awhile since that was in the news. As most of you know this exchange, based in Japan lost over 850,000, yes that's 850 thousand, of its traders Bitcoin. Those traders, now creditors in the Mt Gox bankruptcy proceedings that have been going on in Japan since late 2014 have started to get buy out offers from Fortress Investments. The price of Bitcoin at the time of collapse was $451 USD, today of course we are at $12,000 USD, but it is not perfectly clear if the creditors will get their Bitcoins back or just the USD value of their Bitcoins. I was under the impression they were going to be able to choose, but I couldn't find the story where I read that. Anyway, the interesting development is that now Fortress Investments is offering to give creditors 900 USD for each Bitcoin they had on the exchange. This is obviously more than the 2014 USD value, which suggests they think there is a good chance to get the bitcoins rather than USD at the time. I also expect they will get some Bitcoin Cash and Bitcoin SV and who knows, maybe even Bitcoin Gold. At first I thought that 900 USD was way too low, but the linked article notes that another large investor sold out for only 600 USD per coin. I've heard the saying a bird in the hand is worth two in the bush, but is 900 USD from Fortress today worth 12000 later? Interesting decision these crediotrs have! Link: https://www.coindesk.com/fortress-will-buy-mt-gox-creditors-claims-for-900-per-bitcoin-owed
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