Post
Topic
Board Bitcoin Discussion
Re: Mt Gox Upcoming release of funds to its creditors vs Btc Price
by
irfan_pak10
on 13/08/2022, 14:25:37 UTC
There is this report by BRL; https://twitter.com/lab_blockchain/status/1557330341139972104
There were 22,560 creditors share total claims of $17 billion with an average claim of ~39btc. Do you think they are going to hold it ?

Well somethings not quite right here, as we're talking about 140K bitcoin that's worth $3.4 billion as of typing, not $17 billion. Unless $10b+ has already been claimed as part of the earlier payout scheme?


(I just realised that the amount credited is lower than the amount claimed, hence $18.4 billion in claims with 140K Bitcoin credited)

MtGox only got 140k btc, Others they lost during the hack. Thats why they are only distributing 140k



Its not about those creditors will sell their 140k coins at once, there were few strategies, if they opted to get paid in cash then the escrow will have to sell the coins at once and that would be the problem. If they opted to get paid in the BTC too, then again, Whales will take benefit of the situation and they will try to dump the btc price to buy back at lower price.