NewsletterMt Gox News: Reddit Poll Shows Over 50% Creditors Won’t Sell Bitcoin
Highlights
- Over 50% of Mt Gox creditors will not sell Bitcoin after repayment.
- This comes after speculations from the market as they wait for repayment.
- A slew of users opine that institutional activity might not affect sales.
A new Reddit poll shows that over 50% of Mt Gox creditors will not sell repayment Bitcoin (BTC). As repayment moves go underway to distribute assets after a decade, creditors express delight in the development. However, industry watchers worry about the effect of the market should a bulk of users sell their Bitcoin.
Over 50% of Mt Gox Creditors Won’t Sell
A recent poll conducted on social platform Reddit shows that 55% of Mt Gox creditors will not sell after receiving repayment. 467 members participated in the online polls with 260 creditors choosing not to sell any part of the assets after the compensation. However, 18% of participants (88 voters) chose to sell all the assets while the rest chose to sell a portion and hold the rest.
26 participants elected to sell 25-50% of Bitcoin while 68 creditors opted to sell 1-25% of assets. The reasons for this happened due to the rate of global adoption of Bitcoin in the last decade. The price of assets touched an all-time high above $73,000 this year after the approval of spot Bitcoin ETFs by the United States Securities and Exchange Commission (SEC).
As a result, some creditors might want to sell part or a bulk of assets to make a sizable profit while others would hold on in anticipation of more gains.
Community Await Bitcoin Repayments
This month, the exchange announced that it will begin repayments of affected creditors after a decade. Mt Gox creditors are expected to receive about 140,000 Bitcoin over the coming months. This is worth an estimated $9 billion, a total 9,000% increase in the last 10 years.
A major concern for the community remains the volume and impacts on the market should Mt Gox creditors decide to sell assets. Recently the German government Bitcoin sale sparked a downward trend in the market with BTC price plunging to $55,000. However, a cross-section of the market believes Mt Gox creditor’s sales will not impact the market due to the presence of institutional investors.
Also Read: XRP Whales Buy The Dip With $139M Accumulated From Major Exchanges
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- BlackRock Bitcoin ETF Ranks Among Top ETFs In 2025 Despite Crypto Downturn
- Stablecoin Adoption Deepens as Klarna Turns to Coinbase for Institutional Liquidity
- Ripple, Circle Could Gain Fed Access as Board Seeks Feedback on ‘Skinny Master Account’
- Fed’s Williams Says No Urgency to Cut Rates Further as Crypto Traders Bet Against January Cut
- Trump to Interview BlackRock’s Rick Rieder as Fed Chair Shortlist Narrows to Four
- Will Solana Price Hit $150 as Mangocueticals Partners With Cube Group on $100M SOL Treasury?
- SUI Price Forecast After Bitwise Filed for SUI ETF With U.S. SEC – Is $3 Next?
- Bitcoin Price Alarming Pattern Points to a Dip to $80k as $2.7b Options Expires Today
- Dogecoin Price Prediction Points to $0.20 Rebound as Coinbase Launches Regulated DOGE Futures
- Pi Coin Price Prediction as Expert Warns Bitcoin May Hit $70k After BoJ Rate Hike
- Cardano Price Outlook: Will the NIGHT Token Demand Surge Trigger a Rebound?
