Transactions Begin
Mt. Gox has started repaying creditors by transferring a small amount of Bitcoin to Bitbank, one of the authorized exchanges. This follows months of planning to distribute $8.2 billion in Bitcoin owed to creditors.
Test Transactions?
The initial transfer was for only $24. It’s unclear if this is a test run before larger transfers. The Mt. Gox Rehabilitation Trustee had previously indicated that repayments would start in early July.
Market Impact
The repayments could affect the supply and demand of Bitcoin (BTC) and Bitcoin Cash (BCH). Experts predict trading opportunities as creditors sell their holdings.
Trading Strategies
Traders are advised to consider strategies like long BTC perpetuals paired with short BCH perpetuals to capitalize on the market dynamics.
