San Francisco based Investment company Fortress offers payout to MTGOX creditors

Through bitcoin, the Argentines are developing an economy which doesn’t require the bankers.

Max Keiser

BITCOIN has made many early investors cryptocurrency millionaires over the last few years, but if you were caught up in the MTGOX debacle, read on…

The following news is relevant mostly for early adopters who invested through one of the biggest bitcoin exchanges MTGOX.

MTGOX the Japan based exchange handled over 70% of all bitcoin transactions in 2014. 

However, on 28th February 2014 the exchange filed for bankruptcy as some 750,000 of customers bitcoin went missing.

Since then a lengthy lawsuit has begun, as creditors have been seeking a percentage return on their lost bitcoin holdings.

The Tokyo District court appointed Nobuaki Kobayashi as the trustee of the now defunct exchange.

Kobayashi has located around 200,000 bitcoins.

Over the last 5 years despite numerous creditors meetings any potential payback dates have continually been pushed forward and creditors have been losing patience.

Fortress, a San Francisco based investment group have recently sent private letters to offer creditors a price to take over their claim of $900 per bitcoin claim roughly 200% of the value at time of bankruptcy ($451 per BTC).

Check out the link to the company here.

While this represents fair value, here at the humanoid we believe if you are a creditor & long term orientated to hold your BTC until the matter is resolved in the Japanese court. 

(The price of BTC today is $10204). 

The next creditors meeting is due to be held on October 1, 2019

This news comes amid Dominoes Pizzas launching a competition with the winner walleting $110,000 (£89266) in BTC.

The competition is all part of the company’s 30^th anniversary.

Check out the company’s tweet (it’s in French).