Is it true that Mt Gox funds are going to get released?

[Danydee]

I recently heard a guy speaking about his investing habits and saying that it is not as much about the speed of the car but rather about the direction of travel and the highway you are taking. MtGox funds freed will have an inpact for sure. Most people owning that money are by today's standards uber rich as they have been involuntarely holding it for a very long time. My take is that they will liquidate big. Yet the car is still driving in the same direction.

Well, I see;
so where the retribution, the reimbursed money will more be like money found or (free money) than money (BTCs) acquired or that was holded !

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[noormcs5]

I was told by a source that Mt Gox funds will be released on ~20 November, 2021 on the order of honorable court where the hearing was made. If it's a fact, will 150k btc worth $10 billion enter the market? And should we prepare for a big dump after this happens? The intention behind posting this isn't about spreading chaos but awareness about what may happen if Mt Gox funds will be released. This is a happy news for me, but scary too.

Quite scary for Bitcoin holders. It could potentially drop its price and could reach 55K+ once again in just an instant and these guys who lost their BTCs are now potentially millionaires. What a fortune though. It just like they hold it for long then got released with a xxxxx return. Just wow.

Price has already being to show instability and dropping too fast in the last few days.

Is this the reason of current bitcoin dump as people are afraid of the Mt Gox funds release and selling pressure is developed even before that event.

[2double0]

Price has already being to show instability and dropping too fast in the last few days.

Is this the reason of current bitcoin dump as people are afraid of the Mt Gox funds release and selling pressure is developed even before that event.

Not that alone seems to be the reason as I also came across one more news that US Department of Justice seized ~20 wallets with $57 million worth cryptocurrency in the Bitconnect fraud and have started to liquidate it officially. Based on the official article -

"As part of his plea agreement, Arcaro admitted that he earned no less than $24 million from the BitConnect fraud conspiracy, all of which, according to court documents, he has agreed repay to defrauded investors. The order entered on November 12, 2021, begins the process of making those victims whole by liquidating the fraud proceeds in Arcaro’s possession—the vast majority of which were in the form of cryptocurrencies, including Bitcoin, Ethereum, Litecoin, Dash, and several others."

https://www.justice.gov/usao-sdca/pr/almost-57-million-seized-cryptocurrency-being-sold-victims-bitconnect-fraud

[ice18]

According to some news website, MtGox settlement may happen in the Q1/Q2 of 2022 so we can't expect a selling pressure this year also they are unsure if the payments will be in btc or in fiat currency. People involve in the settlement process for sure may profit from this and the worst if they decide to liquidate it and pay investors in fiat money. 
https://markets.businessinsider.com/news/currencies/mt-gox-bitcoin-settlement-payouts-9-billion-dollars-early-2022-2021-11

[OgNasty]

I can tell you that nothing has moved quickly with this resolution.  I'm not expecting to hear anything else on the matter until next year, at which point they will likely begin the process of collecting banking information.  I haven't even gotten notice of approval yet (even though I read the vote was approved).  I will absolutely shocked if I get a payout in the next 6 months.  A little surprised if I get it in the next year, and about what I expected if a payout is sent in about 18 months.  As far as something moving the market, I think it's a non-issue at the moment.

[Danydee]

I haven't even gotten notice of approval yet (even though I read the vote was approved).

I think there is a list of approvals and disapprovals for the claims..
Maybe you can look into it ??

.. decide to liquidate it and pay investors in fiat money.

among the main things that delayed the process, there is an objection brought by the creditors who were against the very first paper which planned to reimburse the creditors in fiat currency, and this objection was approved and normally the creditors with the BTC balance will be able to choose the reimbursement method.

[m2017]

According to some news website, MtGox settlement may happen in the Q1/Q2 of 2022 so we can't expect a selling pressure this year also they are unsure if the payments will be in btc or in fiat currency. People involve in the settlement process for sure may profit from this and the worst if they decide to liquidate it and pay investors in fiat money. 
https://markets.businessinsider.com/news/currencies/mt-gox-bitcoin-settlement-payouts-9-billion-dollars-early-2022-2021-11

If payments to MtGox users are made simultaneously and in btc, it will inevitably bring down the market. Often enough news is enough to influence the market, let alone the event itself.

This event could easily serve as the start of a premature bearish trend. Nobody would want this now, but we are also powerless to influence it in any way. It remains only to wait and watch the development of events.

MtGox story is a serious headache for the crypto community that everyone would like to get rid of forever.

[carlfebz2]

According to some news website, MtGox settlement may happen in the Q1/Q2 of 2022 so we can't expect a selling pressure this year also they are unsure if the payments will be in btc or in fiat currency. People involve in the settlement process for sure may profit from this and the worst if they decide to liquidate it and pay investors in fiat money. 
https://markets.businessinsider.com/news/currencies/mt-gox-bitcoin-settlement-payouts-9-billion-dollars-early-2022-2021-11

If payments to MtGox users are made simultaneously and in btc, it will inevitably bring down the market. Often enough news is enough to influence the market, let alone the event itself.

This event could easily serve as the start of a premature bearish trend. Nobody would want this now, but we are also powerless to influence it in any way. It remains only to wait and watch the development of events.

MtGox story is a serious headache for the crypto community that everyone would like to get rid of forever.

Serious headache for those who do have funds into it on which this had been a long time running issue whether these people have really some high hopes on retrieving their coins back or not.

Cant really be denied on which this had been a very long long debate and process and waiting for those who do have money on this one.

Lots of trials and arguments and decisions to be waited up but if this one ends up on giving out those funds back even for a portion
then its inevitably to happen on that possible decline.