Mt. Fuji ------- Gox was once the dominant cryptocurrency exchange, but a major security breach caused it to collapse, and nearly 127,000 lenders were waiting for their funds to be returned.
Mt. Fuji ------- Gox was once the dominant #cryptocurrency exchange, but a major security breach caused it to collapse, and nearly 127,000 lenders were waiting for their funds to be returned.
These lenders waited more than 10 years to get bitcoins (BTC), but surprisingly, many of them are still holding on to them. Data shows that nearly half of the bitcoins are owed to creditors of Mt. Gox. Of Gox's 59,000 bitcoins - 141,686 have already been distributed.
Despite the fact that more than 33.2 billion bitcoins have been assigned to creditors, there have been no sales on the market related to this turnover.
the last 20 weeks, the price of #bitcoin has fallen nearly 1%, but this sell-off doesn't seem to have anything to do with Mt. Gox's fund circulation. Instead, it was a perfect storm based on weak U. S. economic data and the cessation of so-called yen trading as a result of the Bank of Japan's interest rate hike.
the Fuji volcano spreading, according to a Glassnode report. Gox represents the final chapter of its major work in the industry market since 2013
"from a psychological standpoint
.
The choice to receive claims in bitcoin rather than fiat currency and the resistance to attempts by several organizations to receive claims through litigation could mean that lenders are taking a long-term view.
This long-term view could be the reason for the lack of sales related to lenders. Lukas Ensersdorfer-Conrad, deputy CEO of Bitpanda, spoke to Cointelegraph and said that while there are factors specific to individual lenders, it's worth keeping in mind. Because Gox was one of the earliest exchanges, the people using it were
"pioneers
"1.
To them, Bitcoin is not just an asset, but a technology and an idea that they really believe in.
She added that immediate liquidation of the funds
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