I had a heart surgery in 2021 and decided to place an inconsequential amount of Bitcoin and Ethereum with BlockFi in the event that if something happened to me, the amount would continue to earn interest for my, at the time, 3 year old son as he grew up.
To be sure, trying to get an extra 6% on an asset that is likely to go up tens of thousands of percent over the course of 20 years while putting the entire amount in the hands of a centralized entity is clearly based on hope on top of hope, but now that the bankruptcy appears to be in its tail end I am questioning how this group of professional investors with insider information, at least in regards to where the market was at in November of 2022, managed to sell everyone's Bitcoin at the absolute bottom of $15,348.00.
This may have been fine if they paid us out when Bitcoin was at that price, but by the time we receive the dollar amount, the price of Bitcoin will have tripled or more. Maybe I'm just being cynical, but does anyone else think something is a little suspicious about this?
I am reminded of the Mt.Gox bankruptcy where the 200,000 Bitcoins they had left they sold at $30k years later, but only had to pay out $550 for each Bitcoin to the owners of the 750,000 they lost. Profiting in the Billions from stalling and making it take longer to complete. Does anyone else think something similar is happening here?
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