Bitcoin (BTC) will face a new selling threat in the near future and users of the Mt. Obsolete Gox preparing to get his BTC back.
In a new correspondence dated July 6, attorney Nobuaki Kobayashi, who was appointed trustee as part of the Mt. Gox, that he was “preparing to issue refunds” to account holders.
Cash, Bitcoin or Bitcoin Cash?
More than eight years after the Mt. Gox, they seem to have lost money about getting BTC.
The event is long overdue, as are concerns about its impact on the market. The price of bitcoin at the time was only a fraction of the current $ 20,900, commentators noted, leading to suspicions that recipients could sell large amounts of BTC on the market immediately, putting pressure on prices.
In official correspondence, Kobayashi did not give an exact date for the start of repayments.
“The Rehabilitation Trustee is currently preparing to make repayments in accordance with the approved and binding rehabilitation order of the Tokyo District Court (the” Court “) final and binding of November 16, 2021 (the” Rehabilitation Plan “).” , one can read.
Data subjects now have the option of receiving unpaid funds in the form of “early lump sum refund or not”, the post continues, as well as acquiring all or some of these funds in BTC or Bitcoin Cash (BCH) altcoin.
“The date for elections and registration shall be fixed by the Rehabilitation Trustee with the consent of the court,” the correspondence states.
The recovery plan was first approved in 2018 and confirmed in October 2021. Of the initial 850,000 BTC lost the fall of Mt. Gox, only 150,000 BTC would be recovered.
Potential black swans yet to come:
1. Victims of Mt Gox finally get their bitcoin released
2. Tether drop able to redeem
3. Total stock market crash
5. Rise of Ukraine
6. Satoshi lives and moves some $ btc from genesis wallet
7. Schiff buys bitcoin
– EloniusMunk (@EloniusMunk) June 18, 2022
Potential black swans yet to come: 1. Mt Gox victims finally get their bitcoins released. 2. Tether drop able to recover 3. Total stock market crash 4. Taiwan invasion 5. Ukraine rise 6. Satoshi is alive and moving some BTC from Genesis wallet. 7. Schiff buys Bitcoin – EloniusMunk (@EloniusMunk) June 18, 2022
In response, Ki Young Ju, CEO of the analytics platform said on a chain CryptoQuant advised traders to set a price alarm for when payments will start.
“He’s still calm at the moment,” he said. tweetedand another Twitter user included Mt. Gox tops the list of “black swan” events that could affect BTC.
Celsius Loan Repayment adds to BTC
The BTC / USD pair was not happy with the prospect of daytime payments.
READ ALSO: Celsius has repaid $ 143 million in DAI loans since July 1.
Instead, the news that the Celsius cryptocurrency platform had completed its own $ 44 million loan repayments to MakerDAO took the market to nine-day highs near $ 21,000.
As Cointelegraph reports, volatility was already expected to hit bitcoin, which had been consolidating into an increasingly tight range for several days, according to data from Cointelegraph Markets Pro and TradingView.
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