The Breakdown Mt. Gox Distribution Begins and Honeybadger Don't Care
Jul 18, 2024
The podcast discusses the start of Mt. Gox distribution after a decade, Bitcoin's resilience, Stripe's crypto services in Europe, US policymakers' views on crypto, BlackRock's Bitcoin ETF investments, Grayscale's Ethereum trust conversion plan, and crypto donations to political campaigns.
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Fading FUD
- The market reacted to Mt. Gox Bitcoin movement with a 3% drop, but quickly recovered.
- This suggests the impact of Mt. Gox fear is fading, with pessimism being bought up.
Diminishing FUD
- Runner XBT predicted decreasing price impact from Bitcoin transfers.
- He believes FUD will diminish and present buying opportunities.
Manageable Liquidity
- Ki Young Ju noted the Mt. Gox Bitcoin supply is tiny compared to overall realized market cap.
- Even if all $3 billion were sold, it's only 1% of the realized cap increase this cycle.