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<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/mt-gox-prepares-repayments-via-bitstamp" data-wpel-link="internal">Mt. Gox Prepares Repayments via Bitstamp</a><br></p>
<p style="text-align: justify"> Recent on-chain activities suggest that Mt. Gox is gearing up to repay its creditors through the Bitstamp cryptocurrency exchange. Initial test transactions have been executed from Mt. Gox-associated addresses to Bitstamp cold wallets, as reported by blockchain intelligence firm Arkham Intelligence on July 22. </p> 
<h2 id="what-s-happening-on-the-mt-gox-front">What’s Happening on the Mt. Gox Front?</h2> 
<p style="text-align: justify"> Mt. Gox has deposited into one to four separate Bitstamp addresses, marking a significant step in the repayment process. Bitstamp is among the five exchanges collaborating with the Mt. Gox Trustee to facilitate these repayments. These transactions are believed to be test runs. </p> 
<p style="text-align: justify"> Around 127,000 Mt. Gox creditors have been waiting for over a decade to recover <a href="https://en.bitcoinhaber.net/exploring-bitcoins-market-strategy-and-altcoin-seasonality" data-wpel-link="internal">Bitcoin</a> funds now valued at over $9.4 billion. However, the prospect of these repayments has raised concerns among some crypto <a href="https://finance.coin-turk.com/" rel="nofollow noopener" target="_blank" data-wpel-link="exclude">investors</a> about potential selling pressure, which could negatively impact Bitcoin prices. </p> 
<h2 id="details-on-the-matter">Details on the Matter</h2> 
<p style="text-align: justify"> A survey from the Reddit community indicates that 56% of Mt. Gox creditors plan to hold onto their Bitcoin, while 20% intend to sell. By July 17, over 36% of the Bitcoin owed had already been distributed. Notably, Bitcoin whales have refrained from a buying spree, suggesting a cautious market. </p> 
<p style="text-align: justify"> On July 17, a whale unaffected by the selling pressure bought 245 Bitcoin worth approximately $16 million. This address has only conducted two Bitcoin transactions in the past year, netting over $30 million in profit. </p> 
<h2 id="key-takeaways-for-investors">Key Takeaways for Investors</h2> 
<p style="text-align: justify"> Investors should consider the following in light of the <a href="https://newslinker.co" target="_blank" rel="noopener nofollow" data-wpel-link="exclude">recent developments</a>: </p> 
<ul> 
 <li>Potential selling pressure from 127,000 creditors could impact Bitcoin prices.</li> 
 <li>56% of creditors plan to hold their Bitcoin, while 20% aim to sell.</li> 
 <li>Market behavior of Bitcoin whales suggests a wait-and-see approach.</li> 
 <li>Over 36% of Bitcoin owed has already been distributed.</li> 
</ul> 
<p style="text-align: justify"> Arkham Intelligence data reveals that the Mt. Gox-labeled wallet currently holds more than 90,300 Bitcoin, valued at $6.12 billion. The exact timeline for when Mt. Gox will resume repayments is still uncertain, but the recent test transactions indicate final preparations are underway.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/mt-gox-prepares-repayments-via-bitstamp" data-wpel-link="internal">Mt. Gox Prepares Repayments via Bitstamp</a></h5>

Mt. Gox Prepares Repayments via Bitstamp

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Інші статті, опубліковані 22 лип. 2024 р.

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