In the near future, the unlocked Mt.Gox 150,000 BTC may enter the market
In the near future, BTC may face the threat of a mass sale, as customers of the discontinued Mt.Gox crypto exchange will receive their coins
Nobuaki Kobayashi, appointed as a trustee for the restructuring of Mt.Gox payments, confirmed that the process of preparing payments to the owners of the exchange's accounts is underway. Thus, 8 years after the collapse of Mt.Gox, users will be able to receive their BTC.
This event has been expected for a long time, as there were concerns about its impact on the market. Experts note that at that time the BTC exchange rate was relatively low, so users who received a payout can quickly sell large volumes of coins, putting pressure on the market. However, Kobayashi has not yet announced the exact date of the start of payments.
"Currently, the trustee is preparing to make payments in accordance with the approved rehabilitation plan, the decision on the approval of which by the Tokyo District Court became final and binding on November 16, 2021," Kobayashi said in a statement.
Users have a choice: the funds can be received as a lump sum or not, and also determine whether to receive all or part in BTC or Bitcoin Cash (BCH).
The rehabilitation plan was initially approved in 2018 and confirmed in October 2021. Of the initial 850,000 BTC that were lost as a result of the collapse of Mt.Gox, only 150,000 BTC were recovered.
The CEO of the CryptoQuant analytical platform, Ki Yong Ju, advised traders to set exchange rate signals at the time of the start of payments:
"Everything is quiet so far, but we need to be on the alert"
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