"Mt. Gox compensation has started, and the countdown to the $9 billion BTC sell-off is counting down. Can the market withstand the impact?"
Mt. Gox’s compensation curtain is about to begin. The compensation plan for 140,000 BTC is worth up to US$9 billion. This will be a major test for the cryptocurrency market.
Huge compensation:
The Mt. Gox trustee announced that it will distribute $9 billion worth of Bitcoin and Bitcoin Cash to creditors starting in early July.
Market impact:
While the market remains confident in Bitcoin's long-term value, massive short-term selling pressure could have a significant impact on the price.
Supervision test:
The implementation of Mt.Gox compensation is also an important test of the supervision and compliance of the cryptocurrency market.
What do you think of Mt. Gox’s compensation plan?
How will this impact the cryptocurrency market?
How should investors respond to possible market fluctuations?
