K33 Research cautions Mt. Gox’s imminent $9B payout could impact Bitcoin (BTC)
Gox to distribute 142,000 BTC and 143,000 BCH, valued at over $9 billion, to creditors. The payout process could commence as early as next month. All eyes are on the impact of the payout on Bitcoin and Bitcoin Cash price especially after the bitcoin halving event. Mt. Gox, once a major player in the cryptocurrency exchange scene, faced a devastating hack in 2014, leading to its collapse. Now, nearly a decade later, the defunct exchange is preparing to distribute a significant sum of digital assets including approximately 142,000 Bitcoin (BTC) and 143,000 Bitcoin Cash (BCH), amounting to over $9 billion in total, to creditors. This impending payout has prompted concerns among market observers, with K33 Research highlighting the possibility of a negative impact on the price of Bitcoin in a report released on Tuesday. According to the analysts, the influx of Mt. Gox coins into the market could create downward pressure on BTC valuation in the coming weeks. P...