Market Direct: MtGox

MtGox’s compensation is more than 140,000 BTC in total

Valued at $9 billion, the existing ETF holds a total of $14 billion worth of BTC

MtGox exchange was stolen in 2014.

When to pay compensation is a major unresolved event in the cryptocurrency circle in the past 10 years

At that time, the cost of holding coins for these people was about 800-1000 USDT

Now it has increased by more than 60 times, and most people will definitely sell the coins

During this period, BTC has fallen for 20 consecutive days.

A large part of the reason is that MtGox has to pay compensation before October

We estimate that there will be relevant news in August-September

But I didn’t expect that compensation would start in early July

So this news broke today

Be careful of BTC falling below $60,000

How to pay, how much to pay at a time, and through which exchange to pay, we don’t know yet

But it is certain that compensation will take a long time,

because many people have to go through the KYC process (if they are Chinese, it may be more troublesome)

It is not clear whether this matter will be reversed,

more information needs to be disclosed

What should we do now?

De-leverage the contract, reduce the position, and buy it back if it falls

Keep about 30% of ETH and other coins

Free up other positions to get bullets, take one step at a time

BCH can be empty