Analysis: Mt. Gox repayment selling panic is exaggerated
Odaily2024/06/26 11:00
By:Odaily
Odaily News A trading report from investment firm Off the Chain Capital suggests that Mt. Gox creditors will begin receiving payments next week, but they may be reluctant to give up the tokens they have held for a decade. Once Mt. Gox is distributed, I believe the
market will generally not start selling these assets immediately because I dont see many creditors
selling Bitcoin as soon as they received it, as they did a few years ago, Off the Chain Capital CEO Brian Dixon wrote in the report. The reason is that Bitcoin has matured considerably since Mt. Gox filed for bankruptcy in 2014. Creditors must ask themselves if they need this cash to buy something or if Bitcoin is better used as a long-term store of value, adding that BTC has been the best performing asset in 12 of the past 15 years. (decrypt)
0
0
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
PoolX: Stake to earn
CEC, QTLX, GDV and other popular new coins are in hot progress!
Stake now!
You may also like
Altcoins Moving Up: They Outperformed Bitcoin and Ethereum – Analysts Assessed the Situation
Following the FED's interest rate decision, it was observed that the market values of altcoins increased more than that of Bitcoin.
Bitcoinsistemi•2024/09/21 06:21
Here’s Which Countries Lead in State-Held Bitcoin Reserves
Cryptodnes•2024/09/21 05:46
Trump silent on crypto platform, SEC urged to clarify airdrops: Finance Redefined
Cointelegraph•2024/09/21 05:00
Indian Supreme Court YouTube Channel Hacked, Promoting Ripple Cryptocurrency
Cryptonewsland•2024/09/21 04:36
Trending news
MoreCrypto prices
MoreBitcoin
BTC
$63,068.5
-1.08%
Ethereum
ETH
$2,550.54
+0.01%
Tether USDt
USDT
$1
-0.01%
BNB
BNB
$578.51
+0.89%
Solana
SOL
$147.01
-0.90%
USDC
USDC
$1
+0.00%
XRP
XRP
$0.5827
-0.74%
Dogecoin
DOGE
$0.1053
-1.11%
TRON
TRX
$0.1518
-0.59%
Cardano
ADA
$0.3554
-0.54%
Bitget pre-market
Buy or sell coins before they are listed, including HMSTR, SCR, OGC, EIGEN, and more.
Trade now
Not a Bitgetter yet?Sign up now to embark on a journey into the crypto world!
Sign up now