Zombit pointed out in a previous report that Mt. Gox has started sending compensation in Japanese yen through PayPal to users who choose cash refunds, while users who opt for payment in Bitcoin seem to be on the verge of distribution.
According to Yang Mindao, founder of dForce and also a Mt. Gox creditor, the Mt. Gox bankruptcy trustee has sent confirmation letters to creditors confirming ownership of exchange addresses. Despite rumors in the past that Mt. Gox was about to distribute Bitcoin to creditors, which never materialized, Yang Mindao believes that with the cash payment channel already delivering, Mt. Gox is likely to actually distribute Bitcoin to creditors this time.
Based on the latest asset-liability content from Mt. Gox, it is expected that Mt. Gox will distribute 141,000 BTC, and if most users choose a one-time payment, a large portion of the Bitcoin may start to unlock within the next two months.
Yang Mindao believes that in the coming months, the market will see 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, making the supply dynamics of Bitcoin in the coming months worth watching. 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 sold off their claims in the past few years, with prices already reflected in the market, and creditors may have hedged in the derivatives market.
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