The largest creditor of Mt. Gox intends not to sell Bitcoin

The largest creditor of Mt. Gox, the exchange that is about to return billions of dollars of Bitcoin, will likely continue to hold the coin instead of selling it.

The largest creditor of Mt. Gox intends not to sell Bitcoin

According to Bloomberg, The largest creditor of Mt. Gox is a Mt Gox Investment Fund that intends to continue holding Bitcoin instead of selling it immediately after receiving the funds. However, source of Bloomberg is anonymous and does not come from a spokesperson for the organization, so should not be taken as an official stance from this foundation.

Mt Gox Investment Fund is an organization created to buy back property rights on Mt. Gox from other creditors, who do not want to continue waiting for the lengthy compensation process, which has lasted nearly 10 years since the time the exchange was hacked and declared bankrupt in 2014.

The two largest creditors of Mt. Gox is Bitcoinica and Mt Gox Investment Fund, which accounts for 1/5 of the total value of claimed assets, claims to receive compensation once in the form of Bitcoin and cash instead of in installments, collecting 90% of the value of assets. entitled to claim from the floor. Source of Bloomberg said the ratio of assets that Mt Gox Investment Fund claims will be 70% Bitcoin – 30% cash, but did not specify a specific number.

As reported by Kyptos, the asset trust representative of Mt. Gox in January 2023 has moved the deadline to apply for creditor compensation to March 10.

MT. Gox will enter a period of returning assets to creditors starting from March 10 and must be completed before September 30. The amount recovered includes nearly 142,000 BTC ($3.1 billion), 143,000 BCH ($16.7 million) and 69 billion Japanese yen ($510 million) recovered by Japanese authorities from the exchange hack. .

However, the specific time to pay Bitcoin is not yet the trustee of Mt. Gox announced.

Synthetic Kyptos

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