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MtGox restition plan vs BTC price for november


Expensive fellow Bitcoiners,

I take into account myself a long-term investor for all of the technical, idealistic & monetary causes that a lot of you might be in all probability sharing as effectively. However I fear about an excessive amount of enthusiasm across the future potential value appreciation these days. I’d like to debate one contextual, short-term however none the much less historic and large occasion that can occur quickly and that might put some downward stress on the spot value.

For these of you who’ve been on this lengthy sufficient, [MtGox Exchange](https://en.wikipedia.org/wiki/Mt._Gox) closed transactions twenty fifth feb 2014 following a large hack and tons of of 1000’s of bitcoins misplaced and has since been adopted by a 8 years authorized improvement aiming at returning former clients what could possibly be « saved » (apparently [200k BTC](https://devices.ndtv.com/cryptocurrency/information/defunct-bitcoin-exchange-mt-gox-usd-9-billion-2589828)). On the time of the hack, a BTC was round 550USD/coin. These former clients are actually taking a look at >100x features.

In October 2021 this rehabilitation plan was accepted and the following steps in November would be the [restitution of those bitcoins](http://www.mtgox.com/img/pdf/20211020_announcement_en.pdf).

Now, not like what some might imagine, the spot value isn’t outlined by the market capitalization, however by the depth of the order e book and the variety of out there cash on exchanges.
[We can see](https://cryptoquant.com/overview/btc-exchange-flows) {that a} comparatively low distinction in provide (200k BTC delta between July twentieth and now on exchanges) can result in an enormous spot value distinction whether or not appreciation or depreciation (30kUSD/BTC to 60kUSD/BTC).

Now, I really feel like if even half (100k BTC) of these MtGox bitcoins are offered by the previous clients to safe income we may see a reasonably heavy stress on value in some unspecified time in the future.

I’m wondering the way you of us really feel about that and if this makes any sense for you or if I missed one thing essential that may invalidate my tackle this case.

In any case, that’s no monetary recommendation, and bear in mind to not ever make investments greater than what you’re prepared to lose.

Cheers & HODL FTW.



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