Post
Topic
Board Speculation
Re: Peter R's theory on the collapse of MtGox and its effect on the price of bitcoin
by
malevolent
on 03/03/2014, 15:50:38 UTC
But theft was hardly a concern.  In October of 2010, bitcoins were trading for $0.10 and the half a million bitcoins held by MtGox was worth only $50,000.   But still Mark took precautions, diligently moving bitcoins to offline storage and leaving only what was necessary for customer withdrawals online.   He truly wanted both his business and bitcoin to succeed. 

This may look like Mark bought Mt.Gox from Jed McCaleb in 2010, but the ownership did not change until March 6th, 2011:
https://bitcointalk.org/index.php?topic=4187.0