Bitcoin Analyst Claims BTC Consolidation Will Continue, Hedge Funds Throw In ...
Bitcoin is trending lower at spot rates, sliding away from all-time highs. Looking at the performance in the daily chart, it looks like bears are stepping up, following the general inactivity in an overwhelmingly bearish trend. When writing, the coin is down 10% from March 2024 highs but steady. Will Bitcoin Consolidate For Two More Months? Taking to X, one analyst argued that the current state of affairs will likely continue in the days ahead. While most experts predicted Bitcoin prices to rebound sharply, even breaching all-time highs and race to $100,000 after the all-important Halving....
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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....
International hedge funds are said to be moving to purchase claims held by customers of failed bitcoin exchange startup Mt Gox. The Financial Times reported this morning that as many as four hedge funds are moving to buy claims related to the Japan-based bitcoin firm, seeking a possible windfall should creditors be made whole. Documents obtained by CoinDesk indicate that Argo Partners, a New York-based firm that focuses specifically on investing in failing or bankrupt companies, is among those seeking to purchase claims. Argo Partners did not immediately respond to a request for comment.....
Hedge funds are offering to purchase claims from creditors who lost their Bitcoins when Mt. Gox went bankrupt in 2014. As the Financial Times reports, four hedge funds have said they are willing to purchase customer claims for 15 percent of the total amount in Japanese yen. Mt. Gox customers who lost coins face regaining no more than 25 percent of their investments. However, their claim costs were calculated when Bitcoin was trading at around $430, meaning that even a partial refund could now be lucrative. “The peculiarities of the situation — in which creditors may not be paid out for at....
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.....
Mt Gox creditors have waited for over three years to see some of their lost bitcoins returned, but the end is still not in sight. However, a number of them may be able to cash out soon since some hedge funds are now buying Mt Gox claims, offering 15 percent of the claims’ value in cash. How to Sell Mt Gox Claims. A website called Mygoxclaim, has been....