Has a major Bitcoin sell-off been avoided? The largest creditor of Mt. Gox has made a decision
The Mt Gox Investment Fund has decided not to sell the Bitcoins it will receive from the cryptocurrency trading platform later this year. The fund will receive
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The Mt Gox Investment Fund has decided not to sell the Bitcoins it will receive from the cryptocurrency trading platform later this year. The fund will receive an early payout in September instead of waiting for the conclusion of legal proceedings related to the exchange's downfall, and the payout will consist of 70% Bitcoin and 30% cash. UBS strategists believe that the repayments are unlikely to have an impact on the price of Bitcoin as most early adopters are still believers in cryptocurrency. Creditors can choose to receive fiat or crypto payments, with the registration deadline for payment preferences postponed until March 10. Mt. Gox went bankrupt in 2014 after a massive hack.
