Hedge Funds Seek to Capitalize on Future Mt Gox Payouts
Few hedge funds are looking forward to buying into Mt Gox claims as they expect Bitcoin price to appreciate further. The victims of Mt Gox are yet to receive the payouts. While they still wait for closure, hedge fund managers are busy digging for opportunities to make money. The reports indicate that few hedge funds in the United States and Japan are planning to buy the claims from Mt Gox victims with the hopes of capitalizing on the appreciating Bitcoin price in the future. According to a report on one of the leading financial news outlets, at least four different hedge funds have started....
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Hedge funds in Japan and the United States are reportedly buying and offering to buy claims from thousands of account holders of the now-defunct bitcoin exchange Mt Gox, the world’s biggest bitcoin exchange at a time, before its downfall. The Financial Times cites sources to reveal that at least four hedge funds have begun the process of buying or offering to buy claims from account holders at 15 percent of the yen value of the claim, in cash. The hedge funds are betting on bitcoin gaining value, which it has, considerably since the claims were lodged in the aftermath of Mt Gox’s failure.....
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