Repayments Underway
Mt. Gox, once the biggest Bitcoin exchange, has finally started paying back its creditors after a decade-long wait. Creditors have started receiving Bitcoin (BTC) and Bitcoin Cash (BCH) in their accounts.
Japanese Creditors First
Japanese creditors have received their full share of BTC and BCH. However, creditors from other countries may have to wait up to 90 days for their payments.
Market Concerns
Some investors worry that the influx of BTC and BCH into the market could lead to a sell-off and drive down prices. Creditors may be eager to sell their tokens for profit, despite assurances that many will hold onto their Bitcoin.
Staggered Payments
Some suggest that the payments should be made in installments to prevent a sharp market decline. Early receivers could have an advantage over late receivers, as they can sell their tokens before the price drops further.
BTC Price Impact
The repayment news has already impacted the Bitcoin price, which fell to $54,000 earlier today. As of now, BTC is trading at $55,520, a 2.5% drop in the last 24 hours.
