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Author Topic: MT Gox Trustee Sold Half a Billion Dollars Worth of Bitcoin and Bitcoin Cash  (Read 44 times)
alyssa85
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March 07, 2018, 01:41:11 PM
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https://www.trustnodes.com/2018/03/07/mt-gox-trustee-sold-half-billion-dollars-worth-bitcoin-bitcoin-cash

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The MT Gox trustee has sold 35,841 BTC for $362 million and 34,008 BCH for $45 million according to reports coming out of a creditors meeting held earlier today.

Mark Karpeles, MT Gox’s former CEO, said the sums were “sold between December 2017 and February 2018 with the assistance of a bitcoin exchange.”

Little further detail is provided at this stage with a full report by the trustee providing no explanation why the funds were sold or why they were sold at this precise point.

A big sale like that could be the reason for bitcoin's downward pressure between Dec 2017 and Feb 2018.

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March 15, 2018, 03:46:36 AM
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If you look at the turnover of bitcoin (BTC / USD) on coinmarketcap.com, then a little:
13 ... 23 billion turnover for this period, merged 10 million per day, or 0.077% ... 0.043%.

In terms of turnover, USDT is 1700 ... 4600 billion, then 0.59% ... 0.2%, however slightly.

For a correct estimation it is necessary to know what part of bitcoin is covered by the fiat currencies.
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