Mt. Gox to Pay Out Claims in Bitcoin, Ending Kobayashi’s Reign Of Terror on the Markets

Mt. Gox to Pay Out Claims in Bitcoin, Ending Kobayashi's Reign Of Terror on the Markets

The historic Mt.Gox saga is finally coming to an end and though it may of rocked the Bitcoin World over 4 years ago its ripples have been felt ever since. Just recently we had Kobaysahi, the guy responsible for selling off large amounts of the seized Bitcoins, dumping bucket loads of Bitcoin on various exchanges causing some unpleasant results on the markets. With still many more to sell it was feared we would have more market dumping in the near future.

However, as we start to get some closure on the trial we also get some positive news:

So no more Bitcoin will be sold by the Trustee, all creditors will be paid in Bitcoin rather than their dollar worth. This is good news for both creditors and everyone else in the Bitcoin space.

It is true of course that some creditors are likely to sell off their recovered Bitcoin, however it is far less of a problem when multiple people dump lesser amounts of Bitcoin on multiple exchanges at different times.

It’s not quite over yet, but if all goes well we should see this chapter in Bitcoins history come to an end soon:

“…However, this victory has not been realized yet. The victory will come to creditors when Mt. Gox makes payment to creditors and creditors actually receive such payment.” – Mt. Gox creditors

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2018-06-22T16:29:02+00:00

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