Bitcoin faces Mt. Gox 'black swan' as trustee prepares to unlock 150K BTC
— Still quiet, Cointelegraph reported, List, Market, Gox trustee balance chart, Fresh correspondence dated july 6, Commentators, Attorney nobuaki kobayashi, Btc back, Payouts — 1 min read
Bitcoin users of defunct exchange Mt. Gox prepare to get their BTC back. In correspondence, attorney Nobuaki Kobayashi says he is "preparing to make repayments" to account holders. The event has been long coming, as have concerns over its impact on the market. The price of Bitcoin at the time was a fraction of the current $20,900, commentators have noted, leading to suspicions that recipients could instantly sell large amounts of BTC on market, pressuring prices. Out of the initial 850,000 BTC lost, only a reported 150,000 has been recovered from the collapse of Mt.Gox's collapse of the exchange in 2011. The deadline for the payments will be set by the Rehabilitation Trustee with the permission of the Court. Source