Mt. Gox Retains 90,000 Bitcoin, Worth Approximately $6 Billion

Mt. Gox still holds approximately 90,000 Bitcoin, valued at around $6 billion.

Recent data from Arkham Intelligence shows the last major transaction occurred on July 24, 2024, involving 382 BTC (worth about $25 million) sent to Bitstamp.

The potential sell-off of these assets has created concern among market participants, particularly regarding whether Mt. Gox creditors, who have waited over a decade for reimbursement, will sell their holdings.

A Reddit poll on the Mt. Gox insolvency subreddit revealed that 56% of 467 creditors do not plan to sell their Bitcoin, while 20% intend to sell.

Additional data from CryptoQuant and on-chain analyst RunnerXBT suggests limited immediate sell pressure.

However, financial analyst Jacob King predicts that up to 99% of creditors may sell, potentially pushing Bitcoin's price lower.

Despite these concerns, Bitcoin has remained relatively stable, recently peaking at around $68,000 and currently trading near $65,000.

#ETH_ETFs_Trading_Today #Bitcoin_Coneference_2024 #BinanceHODLerBANANA #BinanceTurns7 #enofuagreat