Published on November 15th, 2017 | by bitcoin0
Bitcoin Bankruptcy was not Really a Bust
Gox filed for bankruptcy protection in Japan, where it was based, and customers lost something like 750,000 bitcoins, worth about $500 million at the time.
Gox imploded, in February 2014, bitcoin was trading in the hundreds of dollars.
Right now, three and a half years later, bitcoin is trading in the thousands of dollars.
Meaning that, in very round numbers, it has about a quarter as many bitcoins as it did at its bankruptcy filing, but each bitcoin is worth 10 times as much.
This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.