😬Mt. Gox Redemption Fears ‘Overblown’ Say Traders as $10B BTC Holdings Draw Concerns
The defunct crypto exchange’s trustees said Monday they are preparing to start distributing bitcoin (BTC) stolen from clients in a 2014 hack in the first week of July. Traders believe the selling pressure from Mt. Gox's repayments might be less severe than anticipated, potentially easing concerns about an immediate selloff.Galaxy Research suggests that a significant portion of the distributed Bitcoin may not be immediately sold, as most will likely be held by creditors due to their low-cost basis.
