Mt. Gox will start paying creditors starting next July, in an event that has been awaited for many years.
Those responsible for the Mt. Gox previously offered creditors three options to collect their assets:
- Obtaining 90% of their estimated assets, now
- Wait 3-5 years to obtain the full assets
- Obtaining their assets in cash without any deductions, provided they wait for a currently unknown time.
Galaxy Research estimates that 75% of creditors have voted to get a portion of Bitcoin now.
The number of Bitcoins recovered is 141,868 Bitcoins.
The investment fund MtGox Investment Funds and the former trading platform Bitcoinica are the largest creditors in the Mt. Gox with a share estimated at 21% of the value supposed to be returned to creditors. Both parties will receive their share in Bitcoin (90%).
This is an important point that reduces selling pressure, as MtGox Investment Funds announced that it will sell OTC currencies if it decides to sell.
In my opinion, the impact of the Mt.Gox news is more psychological than the impact of the sales operations, especially since the distribution operations will take some time. Yes, it may affect the price of Bitcoin if the (small) creditors decide to sell, but the biggest problem lies in the traders themselves currently.
