How bitcoin’s price surge may signal a reversal of fortune for Mt. Gox

One embattled bitcoin exchange is poised to reap the benefits of bitcoin’s recent advance towards record territory.

Mt. Gox was once the world’s largest bitcoin exchange platform, until it filed for bankruptcy in February 2014 after it claimed to have lost more than 800,000 of its clients’ and own bitcoins, which are worth more than $450 million at the time.

Court-appointed trustee Nobuaki Kobayashi previously said he holds a stash of bitcoins that are valuable now to pay off Mt. Gox’s creditors, thanks to the digital currency’s latest price surge. On Wednesday afternoon, bitcoin traded at $2,758.03 per coin on the Bitcoin.com platform, which means that the 202,185 bitcoins that Kobayashi has in his care are now worth more than $557 million.

Of course, Mt. Gox’s solution to insolvency hasn’t escaped the notice of its creditors, many of whom have called on former CEO Mark Karpeles and Kobayashi to shed light on the matter.