Awaiting MtGox payouts: what will happen to Bitcoin’s price.
In July, the trustee of the bankrupt exchange MtGox plans to begin payments to the platform’s creditors. The market is holding its breath, awaiting the end of the years-long proceedings and the distribution of over 140,000 BTC.
This year, Bitcoin reached another all-time high but then declined again and is now trading around $60,000. At the beginning of June, analysts at QCP Capital stated that the value of BTC was being held back by uncertainty surrounding the distribution of MtGox’s crypto assets. This week, it was revealed that the platform’s creditors are promised 142,000 BTC, 143,000 BCH, and 69 billion Japanese yen. The total amount of payouts exceeds $9 billion.
Bitcoin’s price reacted to the news with a brief drop to $59,000.
