According to This Report, Mt.Gox Distribution Will Not Drop The Price Of Bitcoin!

Bitcoin (BTC) The bankruptcy process of Japanese crypto exchange Mt.Gox, which is closely followed by its investors, has been going on for a long time.

In this process, the speculations about whether the Bitcoins to be distributed to the victims would be effective on the market did not end.

The last comment on this is one of the largest benches in Switzerland. UBS came from analysts.

UBS analysts say the upcoming Mt. Gox refunds bitcoin He said the price wouldn’t be a cause for concern.

UBS analysts Ivan Kachkovski and James Malcom in its report, Mt. Gox He stated that the rehabilitation plan for repayments offers creditors several options regarding the timing of payments.

“The current payment schedule gives creditors a variety of options when it comes to repayment methods and timing.

Among the most important is whether to receive an early lump sum payment or wait for further additional asset recovery.

In second place is receiving payments in fiat or cryptocurrencies.

The early wholesale option with cashback as fiat currency shows that the exchange will have to sell BTC to raise the necessary money.

This option, too, may cause long-standing fears that Mt.Gox payments will hurt the price of Bitcoin.

However, considering the stock’s holdings of approximately 142,000 BTC, representing roughly 16% of today’s trading volume, combined with the fact that investors in general continue to believe in BTC and crypto, Mt. Gox refunds will not have a negative impact on Bitcoin price.”

In February, two creditors with a total of 28,000 Bitcoin creditors from the stock market. bitcoin Referring to the demand for payments in BTC, UBS analysts think that the majority of other individual investors will also demand payment in BTC.

Analysts, in this context, also BTC argues that it will not have a negative impact on the price.

*Not investment advice.