Pardon if this has been talked about a lot. I’ve been out of the loop for the last couple months.
Mt. Gox repayment appears to be happening October 2024(?).
Mt. Gox is expected to repay its creditors 142,000 Bitcoin and 143,000 in the forked cryptocurrency, Bitcoin Cash, in addition to 69 billion Japanese yen ($510 million) by October 2024. https://cointelegraph.com/news/mt-gox-confirm-bitcoin-addresses-repayment
This got me thinking - we (maybe just me?) were worried pre-BTC ETFs that a release of hundreds of thousands of BTC would crash the market due to mass selling at higher prices than what it was bought.
Now that a ton of liquidity has been put into the system as companies have offered BTC ETFs, would this really be a significant event?
Greyscale dumped 3443.1 BTC recently and that led to a 2.65% drop and that’s a far cry from 143,000 BTC. Mt. Gox is 41.5x larger.
While I doubt that everyone will sell from Mt. Gox, there may be a run on lambo purchases and luxury properties. However, with all the extra liquidity coming into the market - what are reasonable outcomes?
The scale of the whole thing is hard to grasp. 143,000 BTC at $60,000 USD is $8.58 billion. What is the macro picture like with this now?
thank you for sharing good information.paygonline
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