According to reports, Fortress Investment Group plans to purchase bitcoin (BTC), claims from Mt. Gox creditors, as per a report by CoinDesk on July 8.
Mt. Mt. In the following month, Bitcoin saw a 36% drop in value.
According to the report, Michael Hourigan, a Fortress executive, sent a letter detailing the buyback offer to creditors. According to an apparent copy, Fortress offered the buyback of bitcoin claims at twice the bankruptcy value. The claim value for Mt. Hourigan claims that Fortress can offer $900 per coins. Gox was $451 insolvent at the time.
The letter also noted that the offer is valid until July 31, and that you can purchase bitcoin or fiat currency. Mt. Gox creditors have their claims for lost bitcoins automatically filed. Reddit user DerEwige shared an unverified screenshot from an email that said:
“The creditors that objected to your self approved rehabilitation claim withdrew all objections. Your self-approved rehabilitation claim was approved and you don’t need to submit a claim assessment application.
According to DerEwige this meant that the Mt. Gox users who did not file a claim for rehabilitation after losing their crypto will have a claim filed automatically on their behalf. This claim has now been approved.