Post
Topic
Board Bitcoin Discussion
Re: Mt. Gox Repayment amidst Bitcoin Decline
by
avikz
on 10/07/2024, 05:17:12 UTC
Mt. Gox has started repayments in Bitcoin and Bitcoin Cash. It is not specified just exactly how much have been distributed and how much there is left however the decline of price of Bitcoin these previous days can be attributed back to this.

Additionally, Germany have also sold a huge chunk of their seized bitcoin in an operation against a piracy site last active almost over a decade ago. The exact reason why is unclear however many suspects that Germany is trying to liquidate the Bitcoins they hold to stabilize their economy. Despite a huge sell out, Germany still holds almost 30,000 bitcoins.

These two events contribute to the decline of bitcoin's price. Frantic investors have all sold their bitcoin in fear but if you know better, you know this is the right time to buy and accumulate as much bitcoin as you can.


These incidents could have attributed to the decline in Bitcoin's price. There could be more incidents which we are not aware of, may be or may not be! Countries will always try to liquidate their bitcoin holdings in order to increase their forex reserve. Every now and then, we will see such attempt to liquidate the holdings from any government who are sitting on a pile of seized Bitcoins.

Only a few would recognize, that such events are actually a great time to buy and to average out the buying price if we have acquired Bitcoins at a higher price point. MtGox investors are going through an extremely lucky time it seems!