Fortress has sent offer to purchase Mt. Gox Bitcoin claims

A report suggests that Fortress has sent an offer to Mt. Gox creditors for its Bitcoin claims.
Fortress executive says the offer is at some $900 per coin, double the bankruptcy value.

Ken Chigbo Independent Analyst

Bitcoin claims are being bought from Mt. Gox by Fortress Investment Group, according to a report citing the creditors of Mt. Gox.

As a cap: The Japanese based cryptocurrency exchange Mt. Gox had filed for bankruptcy back in 2014, following their loss of some $473 million worth of Bitcoin (BTC), which was reported to have been due to a hack.

Fortress executive Michael Hourigan distributed a letter to its creditors detailing the buyback offer, as per the report. Fortress has reportedly sent an offer to buy the Bitcoin claims back at around double the bankruptcy value.

As per the report, Fortress executive Michael Hourigan has sent out a letter to creditors detailing the buyback offer. According to an apparent copy of such a letter, Fortress has offered to buy the bitcoin claims back at approximately double the bankruptcy value. Hourigan says Fortress can offer $900 per coin.

Author

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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