Investor Who Made 1,700% on Mt. Gox Circles Crypto Again (1)

In 2017, Thomas Braziel didn’t have much of an interest in Bitcoin. But as an investor in obscure distressed assets, his sport, as he called it, was bankruptcies — and there was nothing quite as enticing as the collapse of crypto exchange Mt. Gox.

“The first instance was: boy, wouldn’t it be cool to buy a Japanese cryptocurrency bankruptcy claim?” said the founder of 507 Capital, a two-man shop named after a section of the U.S. bankruptcy code.

Thomas Braziel

Phtographer: Harry Livingstone

Braziel, the son of two insolvency lawyers, bought nearly 4,000 Bitcoins worth of claims from Mt. Gox customers, using $1 ...