Testimonial: Neil, United States| Case: BlockFi
Neil, a steadfast believer in cryptocurrency, recognized that BlockFi's bankruptcy filing signaled a period of turmoil in the industry. Overwhelmed by the multitude of events occurring simultaneously, he found it challenging to process everything at once.
"I wasn't someone that was turned away from the crypto industry by this event. It was very unfortunate and I hate it for myself and others that did lose a lot, but I'm still much a believer." - Neil
As a seasoned cryptocurrency enthusiast, Neil never doubted the eventual recovery of his assets' value. By examining the current figures, he realized that had he sold his claim initially and reinvested the proceeds, he would have already been well in the green from where he was originally. The crucial factor for Neil was understanding that the value of his crypto holdings would be determined at the time of the bankruptcy filing, not upon repayment in the uncertain future. Holding funds in an account with no potential for growth was not much different to storing money in a piggy bank.
Recognizing the opportunity to reenter the market sooner, Neil made the decision to sell his claim. Reflecting on his experience, he emphasized the tremendous assistance he received from Xclaim, stating that he would have been lost if he had navigated this process alone.
"I could say one thing to other people that were in the shoes that I was in being a creditor with BlockFi or other cases, I'd say for me, I can't say enough about how helpful Xclaim was if I were going through that on my own, I don't know what I would have done.” - Neil