Apr 15, 2019
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Mt. Gox: CoinLab’s $16 billion claim coincides with Bitcoin’s ATH price, multiplied by 800,000 BTC

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Andy Pag, the Founder and Administrator of Mt. Gox Legal, spoke about the claims made by CoinLab, in an interview with Peter McCormack on WhatBitcoinDid. During the interview, Pag was asked whether the claim was high because CoinLab wanted to block out the potential future value of the entire holding.

To this, Pag stated that the total Bitcoin assets’ value that was going to be given to the creditors was roughly $1.5 billion, considering the largest cryptocurrency’s volatile market. Taking this into consideration, he stated that CoinLab resubmitted a claim of $16 billion, clear of the fact that that their claim was not going to be approved. However, there was “some thought process” that went into that massive claim as they could not have “just stumbled across [that] number”, added Pag. He further said,

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