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Mt Gox $10B Bitcoin Distribution Won’t Affect BTC Price: Details

01.06.2024

Mt. Gox Rehabilitation Trustee has recently moved nearly $9.63 billion in Bitcoin and Bitcoin Cash to new wallets, causing panic and raising questions about potential market effects and creditor strategies. However, experts turned down investors’ concerns about a major drawdown in BTC prices. Several factors such as bull market, Fed rate cuts, and availability of better options to reinvest and further increase their return on investments are likely to make creditors reluctant to sell their BTC holdings.

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01.06.2024
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