In these tough times, a bit of historical perspective is useful. Let’s talk about Mt. Gox. After the February 2014 collapse of the Tokyo-based bitcoin exchange, the conventional wisdom was that its creditors, most of them retail users of the online trading platform, would be left with a pittance. Some 750,000 of customers’ bitcoins were missing, a pool that was then worth around $473 million and continuing to fall as the bitcoin market was contracting. Fast forward to 2021, when creditors recouped 90% of the bitcoin. The value of those assets then was $9 billion. A 20-times gain. Now, in the midst of a new crypto ... (full story)