Fortress Said to Increase Offer to Purchase Mt. Gox Claims
- Proposal raised to $1,300 from $755 per Bitcoin in December
- Bitcoin has rallied 40% since the beginning of this year
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Fortress Investment Group LLC increased its offer to purchase creditor claims from the defunct Mt. Gox cryptocurrency exchange in the wake of this year’s Bitcoin rally.
The private-equity and hedge-fund firm sent letters this week to creditors offering $1,300 per Bitcoin, or 88% of its estimated account value, according to the one-page proposal, which Bloomberg News obtained from a person who said they weren’t authorized to speak on the matter. In December, the firm offered $755, and when Bitcoin traded lower, it dropped the price to as little as $600 per Bitcoin last March.