⛔️ 137,891 BTC held in MT. Gox cold wallets

[analysis_mooorty]

⛔️ 137,891 BTC held in MT. Gox cold wallets. What's your thought?

Data Source: https://cryptoquant.com/overview/btc-exchange-flows?category=btc-exchange-flows&search=mt.+gox

[lifeforcepools]

So much BTC? I didn't know they were holding so many bitcoins.

[Lucius]

At first glance, I think it would be best to return those coins to their rightful owners as soon as possible, and not to embarrass the Japanese institutions anymore. The whole story has turned into one big farce that has no end in sight, and the thing is simple - to return the funds that exist to their rightful owners (who can prove it).

For all those who think that this amount is something that can disrupt the market in any way, forget that - neither the funds will one day be paid out at once, nor will those who receive them will dump coins instantly.


analysis_mooorty, the link you posted (and I see it's not your first time), in itself means nothing because in order to see any information we need to register. Friendly advice, this is a bad way to promote your site or Twitter account.

[mgoz]

I've been getting letters from them since 2018...for a claim of $0.79. Not sure how they determined that amount. I only sold on there once in 2013 before they got hacked. Must have been left over dust cause I want to say you could only sell full coins at the time.

[DeathAngel]

Probably the reason for the dip. The thing is there's so much legal nonsense wrapped up in the redistribution of those coins that they probably won’t be released for another 18 - 24 months at least.

[mgoz]

Probably the reason for the dip.

Doubt it's related. That BTC has been sitting in their bankruptcy trust for years now. 

[tabas]

At first glance, I think it would be best to return those coins to their rightful owners as soon as possible, and not to embarrass the Japanese institutions anymore. The whole story has turned into one big farce that has no end in sight, and the thing is simple - to return the funds that exist to their rightful owners (who can prove it).

For all those who think that this amount is something that can disrupt the market in any way, forget that - neither the funds will one day be paid out at once, nor will those who receive them will dump coins instantly.

I agree and it's been long overdue. This historical hack is still pending with the distribution of the coins to their affected customers. The value just even became higher due to the price increase and that would probably make them even harder to release it.

[dothebeats]

Probably the reason for the dip. The thing is there's so much legal nonsense wrapped up in the redistribution of those coins that they probably won’t be released for another 18 - 24 months at least.

The dip was due to some other events, I believe, and that 130k plus would be sitting on that stash for a long time. Also, with the years people waited to get reimbursed, I doubt they’ll immediately sell to recoup the loss, especially now that bitcoin is in a roll and is poised to get higher than the 2017 ATH. A majority of those people would probably hold until they see some profits for those idle coins. Better to seek something good out of it, in this case more profit.