At the current price, it is equivalent to $9.4 billion (10 trillion won). It is interesting to see whether the rewarded creditors will put the bitcoin for sale.
According to foreign media on the 21st (local time), the Mt Gox creditors are expected to receive an order to compensate the creditors within a month from the Japanese bankruptcy court.
# Derivation of consensus from creditors
If the court order takes effect, creditors will distribute 150,000 bitcoins.
In February of this year, Mt Gox proposed a compensation plan. Voting was held on May 31 within the creditors, and voting was completed on October 8.
“99% of the creditors voted, and 83% agreed to the compensation plan,” said Nobuaki Kobayashi, a trustee in the rehabilitation trust.
# Mount Gox Hacking
Mount Gox is a cryptocurrency exchange established in Japan. In 2014, it was hacked and went bankrupt. At one time, it was responsible for 70% of global Bitcoin transactions.
More than 800,000 Bitcoins were hacked. Only about 200,000 were restored. It went bankrupt because it failed to compensate for the stolen cryptocurrency.
Stolen creditors while depositing cryptocurrency on exchanges have been trying to return their investment for about seven years since 2014.
# potential for sale
In 2014, Bitcoin was around $700-800. Currently, Bitcoin has reached a high of $67,000. The price has risen more than 95 times. Damaged creditors are like winning the lottery. If creditors sell bitcoin received as a reward, it may affect the digital asset market.
The number of bitcoins that the creditors are pushing for compensation is 150,000. It has not been decided on what schedule the individual creditors will be compensated in the next month or so.
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