A Date For The Mt. Gox Repayment Is Set, How Will This Affect Bitcoin?

Mt. Bitcoin payments from Gox have been anticipated for a long time. This process took many years and, finally in 2021 there was a way for everyone to seek help. Nobuaki Kobayashi is the rehabilitation trustee and will manage the repayments. The repayment process will take place over several months. A date for the start of repayments has been established.

Get the September Date!

The Mt. Since July 2021’s announcement of the Mt. The claims are currently being processed. There are approximately 140,000 BTC remaining that will be paid in full.

In the latest announcement about repayments, there was a specific date when they will begin. To begin at Japanese Time, the start date for repayment was announced as September 15, 2022. It is possible to recognize this date as the date for completion of Ethereum Merge.

Due to the date of the initial repayment, it is likely that the payment will be completed before the end of the current year. The notice also states that Nobuaki Kobayashi, Repayment Trustee, will stop accepting claim requests at this time to make it possible for the attorney focus solely on the repayment.

Bitcoin price chart from TradingView.com

“To ensure safe and secure Repayments and to avoid unexpected disadvantages, we ask that you refrain from transferring rehabilitation claims during the Assignment, etc. Restriction Reference Period,” the notice reads.

What does this mean for Bitcoin?

Since the Mt. Since the announcement of the Mt. Initial rumors suggested that 140,000 BTC would be dumped onto the market simultaneously, which caused panic among investors. These rumors were discredited.

Instead, Mt. Instead, the Mt. This will see that there is a much lesser impact from the BTC coming into the market and wouldn’t tank the price of BTC.

The start of repayments starts on the same day that the Ethereum Merge. This is something that you need to be aware. Rumours have already circulated that the Merge could lead to a selloff and some BTC will go into the markets.

BTC could continue to fall before the bottom. All of this seems to point towards an unavoidable end, when BTC drops below $19,000 in its last cycle peak.

Featured Image from The Indian Express chart by TradingView.com

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