Mt. Gox transfers USD 6 billion in #Bitcoin What is happening?

The defunct Mt. Gox exchange has begun transferring its bitcoins ($BTC ) 💰 in preparation to repay its creditors. 91,229 BTC have been moved, valued at USD 5.8 billion. This process is part of the rehabilitation plan after the Mt. Gox hack ten years ago. Creditors can choose to receive their funds in cash 💵 or cryptocurrency, with distributions between July and October 📅. The transfers have affected the price of BTC, which fell from $65,000 to $62,000 before stabilizing at $63,700 📉. Analysts have mixed opinions on the long-term impact, with some believing the market can absorb the selling pressure, while others warn that the next few days will be crucial for bitcoin's future direction 📊.

Credits: Criptonoticias