Customers still getting paid back from MT. GOX and other defunct exchanges

[headingnorth]

The repayments started July last year with a deadline of October 2025.
140,000 bitcoins were recovered from the collapse of Mt. Gox in 2014.
The customers are getting paid back in bitcoin.

That is probably a significant source of the current selling pressure on bitcoin.
For many who suffered losses in 2014 probably see the price reaching over 100K
as a good time to exit. And they have been waiting a long time to get their funds back.

Blockfi, FTX, Celsius are also paying back customers in both crypto and cash.
Payments being made over time to avoid disrupting the market too much.

This could be a good buy the dip opportunity.

Mt. Gox Repayments

[hd49728]

The repayments started July last year with a deadline of October 2025.
140,000 bitcoins were recovered from the collapse of Mt. Gox in 2014.
The customers are getting paid back in bitcoin.

Let's remember that not all exchanges with issues will make compensations to their customers, and surely victims never get 100% money back. Mt. Gox is a too old exchange collapse story but it is good for their victims for receiving kind of money back to partially heal their pain.

A newer story is FTX exchange and I believe you know that FTX victims did not feel happy with what FTX has been doing in fund compensation to customers. They felt it is unfair and they painful accepted a fact that they still lost considerable fund after all.

Exchanges are not safe places and surely not heavens for Bitcoin and cryptocurrency storage.
Reminder: Do not keep your money in online accounts.
https://www.cryptowisser.com/exchange-graveyard/

That is probably a significant source of the current selling pressure on bitcoin.

The market can absorb it, it is fud effect more than actually selling pressure effect.

[Darker45]

Here's another reason for procrastinators and those who endlessly wait for the bottom to further delay their Bitcoin purchase. I hope they're right this time around, and that big dip is indeed coming.

However, they should take note that all these repayments are to be done in tranches. In which case, a one-time big-time impact on the market is probably not happening. Furthermore, other repayments are done in cash. In other words, if such repayment affects the Bitcoin price, it would be positively.

[X-ray]

That is probably a significant source of the current selling pressure on bitcoin.
For many who suffered losses in 2014 probably see the price reaching over 100K
as a good time to exit. And they have been waiting a long time to get their funds back.

Hoping there will be statistic of people who sold and who hold.

Personally, I think the market can absorb the selling pressure if any, I also don't think all the customers who gonna receive their bitcoin gonna dump it instantly either.

But it's a good heads up at the very least. Still bullish about bitcoin though.

[Davidvictorson]

Hoping there will be statistic of people who sold and who hold.

yeah that would put things in perspective for us- the number of people who have gotten their money back, how much has been sent, number of people who are yet to get their money back, how much is left to be yet.. These types of data will be quite useful.

Personally, I think the market can absorb the selling pressure if any, I also don't think all the customers who gonna receive their bitcoin gonna dump it instantly either.

Correct. If I were in their shoes selling will be the lead thing on my mind. I'll wait it out for some period of time so as to use it as an opportunity to take profit. A win -win in my estimation.

[hero_the_bossman]

That is probably a significant source of the current selling pressure on bitcoin.
For many who suffered losses in 2014 probably see the price reaching over 100K
as a good time to exit. And they have been waiting a long time to get their funds back.

Hoping there will be statistic of people who sold and who hold.

Personally, I think the market can absorb the selling pressure if any, I also don't think all the customers who gonna receive their bitcoin gonna dump it instantly either.

But it's a good heads up at the very least. Still bullish about bitcoin though.

That would be really nice indeed.

I hope most will continue to see through the situation and get more on the way there, but surely, many will also just go and drop their bags

[Ucy]

The price movement was mostly due to optimistic whales and their promoters who probably thought they could pump the price by buying lots of Bitcoin and then have people attribute the price gain to them. The market typically behaves like this to prove them wrong whenever they try to attribute Bitcoin price gains to their buying efforts.   This is a good thing because if people thought they are behind the price gains they would see them as major market movers, it would make them more money or they could use it as bargaining chip to have major say in development of Bitcoin. Every price gain has to be according to Bitcoin principles to keep things safe.

In regards to mt gox and others, that is not really enough to cause people to find Bitcoin less valuable. The bullish sentiment remains strong while the price action is just temporal for the sake of decentralization, other Bitcoin principles, etc .

[Die_empty]

Here's another reason for procrastinators and those who endlessly wait for the bottom to further delay their Bitcoin purchase. I hope they're right this time around, and that big dip is indeed coming.

However, they should take note that all these repayments are to be done in tranches. In which case, a one-time big-time impact on the market is probably not happening. Furthermore, other repayments are done in cash. In other words, if such repayment affects the Bitcoin price, it would be positively.

Repayment has been postponed several times which has made people doubt if victims will ever be repaid. I am glad people are getting their funds back and hopefully they will recover their losses. Nobuaki Kobayashi, who is the appointed trustee, is doing a good job, and his decision to disburse the funds in batches is good for the market. Dumping all in the market at once would have caused FUD.

[Z-tight]

They still have a couple of months until October 31 2025, which is the deadline to complete repayments to all legitimate creditors. I hope they do not postponed the deadline again, and everything ends in the date they have set. I don't care what the creditors do with the funds they get back, whether they hold or sell, weak hands will always fall for fud and uncertainty, but nevertheless, i don't think this is going to have any significant impact on the market.

[coolcoinz]

My friend got his coins last year and he kept all of it. I hope people aren't treating it like a lottery win and spending it all. It may be tempting to buy yourself everything you've ever dreamed of all at once, but that feeling will pass and you'll feel empty. Trust me, I've seen people do it.

IMO the selling pressure is the US stock exchange. I've said it in another thread that the biggest selling usually comes when there's morning in the US and exchanges open. For about 2-3 hours the market is always red, every day. Look at the 4th and 5th of June. The largest dumps were during morning hours in the US. It's most likely due to the problems US gov is facing with Musk departing and blaming Trump, Trump unable to come to terms with China and the Dollar weakening.

[AVE5]

Indeed a good news for the exchange users that they're getting their money back after all the years and likely that all hope wams gone. It's really impressive that these exchanges reimbursing it customers over lost of their funds on the process of the platform attacks by hackers.
That really proves the exchange reputations is authenticated.

[cr1776]

You have to wonder how many of these people would’ve sold between 2014 and now and instead were forced to hold and consequently have had much larger gains than they otherwise would have.  After all bitcoin was in the $300-700 range at points then.  If I was in that boat, I might sell a little but having seen 11 years of gains would keep most.