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Unchained
Why the Mt. Gox Repayments May Not Hurt the Bitcoin Price Much - Ep. 666
Jun 28, 2024
Alex Thorn from Galaxy discusses the minimal impact of Mt. Gox repayments on Bitcoin price, potential market shocks from creditors receiving billions, success of Ethereum ETFs, impact of Mt. Gox repayments, Ethereum ETFs, and government Bitcoin sales on crypto prices, chances of a Solana ETF approval.
44:17
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Quick takeaways
- Despite fears, only a small fraction of 142,000 bitcoins from Mt. Gox will likely be sold, dampening market impact.
- Approval of Ethereum ETFs and potential Solana ETF filing point to growing interest in crypto ETFs.
Deep dives
Mt. Gox Bitcoin Distribution
A total of 142,000 bitcoins worth approximately $9 billion will be repaid to creditors, allowing early creditors to choose between an immediate partial payment or hold out for a complete refund, influenced by an 11% discount. Creditors can receive their bitcoins through platforms like BitGo, Kraken, or Bitstamp after years of legal processes and account setups.
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