Mt.Gox Upcoming Repayment: Bitcoin Dump Fear

What can be more tormenting than having constant hope been fed to you about your 8 years old lost bitcoin and possibilities of getting it back. This is what the former Mt.Gox Bitcoin investors are currently experiencing, as there is another date fixed on when these investors will be getting a refund of their bitcoin. Mt.Gox is one of the first bitcoin investment companies but shut down unfortunately, this is due to the huge hack that occurred which made the company lose 850,000 bitcoin of investors assets. That is a huge sum of money to lose and if we are using today’s bitcoin’s price value to estimate what that would be today, we should be having over $15 Billion.

image edited on canva but gotten here

850,000 Bitcoin is a lot, considering the total max supply of bitcoin is just 21 Million. These investors were one of the early investors of bitcoin, but unfortunately some of them had to have the bitter experience of losing their bitcoin assets. Some of them most have over just to have a good sleep at night, some of them must have gotten angry and quit crypto because they lost a lot of money and are going with the crypto is scam, you wouldn’t blame them, we have one way or the other been in their shoes.

Back to the refund expected to be done to these investors, this is not the first time they have give them hope about refunding their assets to them, this refund has been postponed so many times, will this be the last date where these investors will finally get their refund? Well, we don’t know till we finally see these investors get their refunds. But think of the amount of bitcoin expected to be refunded too these investors and think of the value, that is $15 Billion expected to be dumped on the market or not. We both know that lots of these investors will dump their coins, the unfortunate event has helped these investors HODL their coins, now it is worth far more than they had.

What if these coins get released to these investors in batches or released to them randomly so they don’t have a collective massive dump on the market. What will be the faith of bitcoin soon? In my opinion, the dump is inevitable, lets brace ourselves for some more bitcoin winter.

Posted Using LeoFinance ^Beta

Posted Using LeoFinance ^Beta