The rise in Bitcoin's price means the former CEO of Mt. Gox could be in for windfall of hundreds of millions of dollars after paying off all his creditors as bankruptcy trustees have indicated any surplus cash would belong to the collapsed exchange’s shareholders, with Mr. Karpelès’s company being the biggest.
That is because the claims by people who deposited bitcoin at Mt. Gox are calculated based on the yen value of the cryptocurrency at the beginning of Mt. Gox liquidation proceedings in April 2014. Meanwhile, Mt. Gox, which is mostly owned by a company controlled by former chief Mark Karpelès, is sitting on more than 200,000 bitcoins worth 17 times as much today as they were then. Bankruptcy-court filings suggest Mt. Gox will have hundreds of millions of dollars left over after paying creditors—money that Mt. Gox’s bankruptcy trustee has indicated would belong to the collapsed exchange’s shareholders, with Mr. Karpelès’s company being the biggest.