By Greg Morcroft - Bitcoin (BTC-USD) faithful burned by the high-profile and very dramatic rise and ultimate fall into bankruptcy of the once-premier trading platform for the virtual currency want to pluck its remains from a Japanese court and rebuild it with a team of U.S. investors.
Creditors who owned almost 75 percent of the virtual currency lost when the Mt. Gox exchange flamed out y earlier this year now support a U.S. investor group’s resuscitation of the company to, according to a report published Monday.
"This is about bitcoin and preserving the value of the bitcoin ecosystem," John Betts an investor in the group that wants to take Mt. Gox out of bankruptcy and has built electronic trading systems for Goldman Sachs Group Inc. and Morgan Stanley, according to the Wall Street Journal. Betts added in an email to the paper that, "This is our collective opportunity to demonstrate the commitment of [the bitcoin] community, that we don't need government bailouts and that the community is self-healing."
Sunlot Holding, a firm associated with Betts according to the paper, has been trying to buy Mt. Gox since February 2013. It's currently offering one bitcoin to purchase the remnants of Mt. Gox from administrators, according to unnamed sources cited by the Wall Street Journal.
The Japanese bankruptcy court now in possession of what's left of the exchange would need to approve any deal, according to the report.