Mt. Gox Repayment amidst Bitcoin Decline

[Doan9269]

For those interested on making an investment, this shouldn't be a consideration because the market may not fall any longer than the current dip we are having, instead of us trying to wait for that time to come for more bearish market, this may be another beginning for a more bullish one, we ha e to invest with caution, the distribution they are making does not constitute the market sentiment we are having, instead such could be a mere occurrence by time, bull season could continue henceforth from now, those receiving payments could not be accounted for after all.

[Marvell1]

Mt. Gox has started repayments in Bitcoin and Bitcoin Cash. It is not specified just exactly how much have been distributed and how much there is left however the decline of price of Bitcoin these previous days can be attributed back to this.

Additionally, Germany have also sold a huge chunk of their seized bitcoin in an operation against a piracy site last active almost over a decade ago. The exact reason why is unclear however many suspects that Germany is trying to liquidate the Bitcoins they hold to stabilize their economy. Despite a huge sell out, Germany still holds almost 30,000 bitcoins.

These two events contribute to the decline of bitcoin's price. Frantic investors have all sold their bitcoin in fear but if you know better, you know this is the right time to buy and accumulate as much bitcoin as you can.

AFAIK, Germany sold seized Bitcoins that are worth around 2 billion dollars. Do you really think that the Germans will stabilize their economy with 2 billion dollars? Many countries around the world have lots of seized BTC to sell and this will add more selling pressure to the BTC market, but that's OK. The Mt.Gox repayments are a good news for all the Mt.Gox investors, who kept waiting for years to get their BTC back.
The Bitcoin market can survive the price drop, that was caused by such events. There's nothing to worry about and the people, who are spreading FUD and "doom and gloom" predictions need to STFU.

The German economy is considered the largest economy in Europe and the 4th largest economy in the world with a total GDP of 4,000 billion USD, only behind the US, China and Japan (2022 data). So it would be naive to think that the German economy needs the help of those bitcoins. We cannot know exactly why they are selling bitcoin at this time, but it is certainly not because they want to save their economy with that small amount of money  .

The return of Mt.gox or the government selling bitcoin are all good news if we ignore the short-term impact. Even for those who understand how bitcoin works, this is another great opportunity for them to buy bitcoin at a discount rather than panic selling.

https://www.worldometers.info/gdp/germany-gdp/

[Blitzboy]

Folks, this whole Mt. Gox and German government thing, its definitely shaking things up in the crypto world. Unquestionably, the price of Bitcoin is down. Still, lets not rush in panic. The earth is not about to die. Actually, for the savvy ones out there, it could be a great purchase point. I have always said, the market swings. Yet you know what? The smartest investors avoid jumping off the ride when it starts to get a bit choppy. They appreciate the vista and grip tightly. This could thus be your moment if you believe in Bitcoin or in the future of cryptocurrencies. Let not fear control your choices. Be wise. Be bold. Remember also that fortune favors the courageous.

[moneystery]

people who did panic selling when the market dropped yesterday were traders who play in the short term or retailers who are new to bitcoin investment. if people who have been in the bitcoin market for a long time, they will definitely understand that now is not the time to panic, they consider that now is a good opportunity to accumulate more bitcoins and then hold them until they get a chance to profit and then they sell them.

because these investors believe that investing in bitcoin is better done in the long term and bitcoin volatility due to market speculation is not a reason for them to sell their assets.

[NeuroticFish]

While the amount of bitcoin sold by German government is significant and most probably has some effect on the price, I think that FUD and speculation have an even bigger effect.
After all, the ETFs have started buying the dip, I expect some other smart big institutions may have done the same under the hood, but people still panic like those coins to be sold are in an infinite amount.
Come on...

[Zlantann]

The German economy is considered the largest economy in Europe and the 4th largest economy in the world with a total GDP of 4,000 billion USD, only behind the US, China and Japan (2022 data). So it would be naive to think that the German economy needs the help of those bitcoins. We cannot know exactly why they are selling bitcoin at this time, but it is certainly not because they want to save their economy with that small amount of money   .

The return of Mt.gox or the government selling bitcoin are all good news if we ignore the short-term impact. Even for those who understand how bitcoin works, this is another great opportunity for them to buy bitcoin at a discount rather than panic selling.

Germany being the largest economy in Europe doesn't mean that they don't need the money from the sale of Bitcoin. The money might be insignificant when compared to the total GDP but selling the coins now shows that they need money. Maybe they want to use the money to finance a project or pay some financial obligations. It is also possible that they are selling to make a profit. They might have plans to buy in the future when the price drops.

This is my first bull run and I am gradually understanding the market. This is why it is important to have a Bitcoin rebuying plan. Don't depend only on signature earning to replenish your hardware wallet. Yeah DCA is the best buying strategy but lump sum buying is not also a bad idea. One can buy Bitcoin with a large sum if you can predict the lowest price during the bear season. I don't expect Bitcoin to get to $18,383 in the next four years, so it will not be a bad idea to buy the coin when it gets to a price like this. So as you are selling also have a plan to buy when there is a golden opportunity. German sale of their holdings and the repayment of Mt. Gox victims is also an opportunity to make a profit because by this time in the next four years (Ceteris paribus), Bitcoin price will be worth more than the current price.

[darkangel11]

Additionally, Germany have also sold a huge chunk of their seized bitcoin in an operation against a piracy site last active almost over a decade ago. The exact reason why is unclear however many suspects that Germany is trying to liquidate the Bitcoins they hold to stabilize their economy. Despite a huge sell out, Germany still holds almost 30,000 bitcoins.

That's a pretty dumb claim since this is a drop in a bucket for them. 30k bitcoin is just roughly 1.5 billion Euro.
And we know that:

General government debt in Germany increased by €62 billion in 2023

Just last year their debt rose by 40 times more than their profit from selling bitcoin is going to be. If you think it's going to help them in any way, think twice.
What it could do is cover the cost of aid for Ukraine, so maybe that's what this is supposed to achieve. AFAIK earlier this year they promised to send 12 billion.
Germany most likely has no way to hold bitcoin and doesn't want to do so at times when CBDC is more important to the EU. That said, somebody shorting this while they dump must be making a lot of money for free. All they need to know is when the next sale is coming and it's free money.

[Marvell1]

The German economy is considered the largest economy in Europe and the 4th largest economy in the world with a total GDP of 4,000 billion USD, only behind the US, China and Japan (2022 data). So it would be naive to think that the German economy needs the help of those bitcoins. We cannot know exactly why they are selling bitcoin at this time, but it is certainly not because they want to save their economy with that small amount of money   .

The return of Mt.gox or the government selling bitcoin are all good news if we ignore the short-term impact. Even for those who understand how bitcoin works, this is another great opportunity for them to buy bitcoin at a discount rather than panic selling.

Germany being the largest economy in Europe doesn't mean that they don't need the money from the sale of Bitcoin. The money might be insignificant when compared to the total GDP but selling the coins now shows that they need money. Maybe they want to use the money to finance a project or pay some financial obligations. It is also possible that they are selling to make a profit. They might have plans to buy in the future when the price drops.

I don't know the reason or purpose they sold those bitcoins but some people said they sold bitcoins because they needed to comply with the country's laws because it was confiscated money from criminals. But I believe that they will not sell those bitcoins because their economy is weak and they need that $3 billion for economic recovery. Just as they do not intend to speculate like us because if they intend to speculate to make a larger profit, they will sell in silence instead of making noise that causes the price to suddenly decrease and they will sell at a low price.

If they really needed that money and intended to manipulate the market for speculation, why didn't they sell when it was priced at $72k but sold when it was priced at $60k or even $53k?

[MusaMohamed]

And we know that:

General government debt in Germany increased by €62 billion in 2023

The national debt of Germany and other countries are available for watching lively with
https://www.usdebtclock.org/world-debt-clock.html

Germany is at the fourth position after the top three nations: the USA. China and Japan.

[kryptqnick]

Germany is done with their BTC, and Mt. Gox is still in the process, I believe. Honestly, I think the biggest impact of both selling events is already behind us. They've already launched, so now it's no longer going to be news, and one of them is already over. Now let's look at impact. Since the start of July, Bitcoin went from $62k to $54k. It's the middle of July now, and Bitcoin is already at $60k, so very close to full recovery from the selling events. IMO, it shows how strong Bitcoin has become, as even billions of dollars and a lot of media attention caused a decline that lasted only for a couple of weeks.

[snerd]

There is news of many influential persons becoming informed of Bitcoin’s potential.

BlackRock’s $10 Trillion CEO Larry Fink Admits Past Bitcoin Skepticism, Now A Major Believer – Details

https://bitcoinist.com/blackrock-larry-fink-major-believer-in-bitcoin/


Michael Dell Calls Bitcoin 'Fascinating' Amid BlackRock CEO's Bullish Stance — Tech Billionaire's Crypto Interest Rising? - Dell Technologies (NYSE:DELL)

https://www.benzinga.com/markets/cryptocurrency/24/07/39785673/michael-dell-calls-bitcoin-fascinating-amid-blackrock-ceos-bullish-stance-tech-billionaire

These are all great news for Bitcoin, and it’s only going to go much higher, much faster.

As Michael Saylor says……….

Don’t miss the ride!!