A week later, Mt. Gox can get their bitcoins

Black Square Design
2 min readDec 9, 2020

Perhaps In one week’s time, the MT. Gox will finally end. On December 15, the estimated distribution among users of 137,891 BTC, which were lost after the platform was closed in 2014, should take place.

The Mt. Gox situation is one of the most infamous events in the history of blockchain and cryptocurrencies. The Japanese exchange suddenly stopped working in February 2014, claiming the loss of 850,000 BTC due to various attacks.

After so many years, the trading platform’s clients will receive $ 2.6 billion worth of bitcoins. In February 2014, bitcoin was trading at about $ 700, and since then its value has increased by about 2,600%.

Most likely, many of the BTC recipients will start selling their newfound coins on the open market, which is fraught with an increase in the bearish trend. In any case, some participants in the cryptocurrency segment of Twitter are already concerned about the potential sale of 150,000 BTC.

The one event that I’m most concerned about (for lack of a better word) this month is the mtgox refund on December 15… We are already fluctuating without a clear signal up or down, and since I don’t scalp such movements until I enter the market (just a spot).

As the event approaches, discussions are activated, including in a subreddit called /r/mtgoxinsolvency, and on a site created to track transactions.

In any case, this is a great progress for everyone who has lost access to their coins for so long.



Black Square Design

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