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.
