Bitcoin’s Price Rise Brings Mt Gox Closer to Solvency

[jamie.redman1]

Everyone involved in the cryptocurrency space is watching the price of bitcoin very closely these past few weeks. One person watching the value of bitcoin rise is the former CEO of the now-defunct Mt Gox bitcoin exchange. Mark Karpeles says he’s “monitoring the situation” as the Mt Gox bankruptcy may seemingly become solvent thanks to rising price of bitcoin.

Last week a post on the subreddit r/mtgoxinsolvency detailed that “Mt Gox reached around 78.5 percent of the claims value today.” The person also asked the former CEO what would happen if bitcoin’s price makes it to 100 percent of the claims value. Karpeles appeared on the Reddit thread detailing his interest concerning the current situation. The former Mt Gox executive says because Coinlab is suing the company it really makes the claims value around 59 percent. Coinlab, the venture-backed blockchain company, has sued Mt Gox for $75 million before the company went bankrupt.

Read More Here >>> https://news.bitcoin.com/bitcoins-price ... -solvency/

[davidmccoy]

Th prices are going high but problems are also taking place. The systems are getting busier every day, and the ratio of unconfirmed transactions are increasing. A serious attention is required to sort the things.