Mt. Gox Repayment: Minimal Market Impact Expected

IconCryptoNewsTerminal Staff02 Jul, 2024

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Mt. Gox Repayment: Minimal Market Impact Expected

Mt. Gox, the infamous cryptocurrency exchange that collapsed in 2014, has begun repaying creditors with 142,000 BTC. However, analysts believe this repayment will have a limited impact on the market. Only 75,000 BTC will actually be distributed to creditors, as 90% opted for a lump sum payment in July. Furthermore, the Mt. Gox Investment Fund (MGIF) has stated it has no plans to sell its Bitcoin holdings. The distribution of funds will also be spread over a month across multiple exchanges, minimizing selling pressure. These factors are likely to prevent a significant market impact.

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