Proactive Investors – After 10 years of waiting, creditors of defunct bitcoin (BTC) exchange Mt Gox are finally receiving their rightful repayments.
It’s a much-deserved moment for these out-of-pocket creditors who have had some $8 billion of bitcoin tied up in the Mt Gox bankruptcy estate.
But the occasion has also raised the spectre of a large-scale bitcoin sell-off if these creditors seek to redeem their crypto for cash.
Early indications suggest these anxieties might not be warranted.
Major crypto exchanges Kraken and Bitstamp, which have been chosen to assist with creditor distributions, have both confirmed that repayments are steadily underway.
Yet bitcoin (BTC) has traded upward over the past week, having surged 5.3% against the US dollar.
At the time of writing, the pair was swapping for $67,346.
Ethereum (ETH), the second-largest cryptocurrency, has been less bullish this week, falling more than 5% against the US dollar.
This…
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