Mt. Gox is Preparing to Return $ 2.6 Billion to Customers

Kataryna Habeliia December 9, 2020

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Mt. Gox is preparing to return $ 2.6 billion to customers

Perhaps in one week, the saga of the Mt. Gox will finally end. On December 15, the estimated distribution to users of 137,891 BTC, which was lost after the platform closed in 2014, should take place.

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About Mt.Gox

The situation with Mt. Gox is one of the most infamous events in blockchain and cryptocurrency history. The Japanese exchange suddenly stopped working in February 2014, claiming the loss of 850,000 BTC due to various attacks.

After so many years, clients of the trading platform will receive bitcoins worth $ 2.6 billion. In February 2014, bitcoin traded at about $ 700, since then its value has grown by about 2,600%.

How does this threaten the bitcoin rate?

Most likely, many of the BTC recipients will start selling their new-found coins on the open market, which is fraught with an intensification of the bearish trend. In any case, individual participants in the Twitter cryptocurrency segment are already worried about the potential sale of 150,000 BTC.

The only event that worries me the most (for lack of a better word) this month is the mtgox refund on December 15th …

We are already fluctuating without a clear signal up or down, and since I do not scalp such movements until I enter the market (just a spot).

As the event gets closer, discussions intensify, including on a subreddit called /r/mtgoxinsolvency, and on a site built to track transactions.

In any case, this is a great progress for everyone who has lost access to their coins for so long.

Follow the current Bitcoin exchange rate on the BitXmi cryptocurrency exchange and using the convenient Coins Live Price service.

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