MtGox dumped 100,000 bitcoins today? ! Let me analyze the impact.

Regarding the Mentougou issue, it comes out to scare everyone from time to time. Let me popularize it for newcomers. MtGox, once the largest exchange, has closed down. There are still a lot of BTC, BCH and the like in the wallet. It has to compensate users (professionally called creditors). Due to the long-delayed legal process in Japan, it has now been delayed until October this year to compensate. The creditors who are still alive have filled out the forms. A total of 140,000 BTC, 140,000 BCH and about 6.9 billion yen (about 510 million US dollars) have to be compensated. There are a total of 130,000 BTC and BCH in the multiple wallets monitored by MtGox. They have not been moved since 2018. Today, they have been moved. 100,000 BTC have been transferred out and are still being transferred out. Judging from the address flow, it should be the collection of coins in various small wallets into two large wallets.

Cash has already started to be paid out in batches. As the two friends who are the poor creditors, they have received the US dollars for compensation in April (probably automatically converted into RMB), and it is estimated that the compensation is almost enough. After all, $510 million is only equivalent to 7,000 BTC, which is enough to be covered by the frozen cash of MtGox and the coins sold before. The cash compensation is almost done, and the next step is to compensate the coins. Therefore, I expect that today's large-scale transfer collection is a preparation for the next step of directly transferring BTC to creditors. Those who choose BTC for compensation are all OGs. The largest creditors include the bankrupt Bitcoinica, MGIF, btc-e, Coinlab and some ancient funds that have been shut down by the FBI. Some of them who are in urgent need of money have sold their claims to some hedge funds in advance. The rest are not so urgent. It is estimated that 20% of the outflow, that is, 30,000 BTC, will be enough for ETFs to digest in a few days. Why did the market panic and fall today? Of course, it is because such hot news is easy to set up. I think that the litigation period is so long, and these variables have been communicated privately in advance, and it is not a black swan. What do you think?

Of course, if you don't know how to do it, click on my profile and follow me. Qiqiqun shares the password with all fans almost every day. #etf以太坊