GBTC and Mt.Gox: A Double Pressure? dForce’s Yang Mindao: Mt.Gox Expected to Distribute Nearly 140,000 BTC in the Next Two Months

GBTC and Mt.Gox: A Double Pressure? dForce's Yang Mindao: Mt.Gox Expected to Distribute Nearly 140,000 BTC in the Next Two Months

GBTC and Mt.Gox: A Double Pressure? dForce's Yang Mindao: Mt.Gox Expected to Distribute Nearly 140,000 BTC in the Next Two Months

Zombit previously reported that Mt. Gox has started sending compensation in Japanese yen through PayPal to users who chose cash reimbursement, and it seems that users who chose to receive payment in Bitcoin will also begin distribution soon.

According to Yang Mindao, the founder of dForce and also a creditor of Mt. Gox, the bankruptcy trustee of Mt. Gox has sent confirmation letters to the creditors regarding the ownership of exchange addresses. Although there have been rumors in the past about Mt. Gox distributing Bitcoin to creditors, which ultimately did not happen, Yang Mindao believes that since the cash payment channel has already started delivering, it is expected that Mt. Gox will indeed distribute Bitcoin to creditors this time.

Based on the latest balance sheet of Mt. Gox, they are expected to distribute 141,000 BTC, and if most users choose a one-time payment, a significant portion of the Bitcoin may be unlocked within the next two months.

Yang Mindao believes that in the next few months, the market will witness the release of “Mt. Gox’s 141,000 BTC” and the potential release of “GBTC’s 600,000 BTC,” along with the Bitcoin halving in April. The supply dynamics of Bitcoin in the coming months are worth paying attention to. However, Yang Mindao also predicts that the impact of Mt. Gox’s Bitcoin unlocking on the market should be limited, as most of Mt. Gox’s creditors have already sold their claims in the past few years, and the prices have been reflected in the market. Additionally, creditors may have hedged their positions in the derivatives market.