A report released recently by the market strategists of the investment bank and financial services company ubs says that future payments mt gox will not destabilize the value of Bitcoin. A report released recently by market strategists from investment banking and financial services company UBS says that future Mt Gox payments will not destabilize the value of Bitcoin.
As a new offer comes on the market, UBS policy makers insist that "it would be less concentrated." Won’t Destabilize Bitcoin’s Value
UBS market strategists think that the cause for concern over the upcoming Mt Gox distribution of 142,000 bitcoin (BTC) may be a bit overhyped in regard to the The 142,000 Bitcoin (CTB) today is valued at over $3.36 billion using current exchange rates.long-held fear that Mt. Gox redemptions would hurt bitcoin’s price.”
Bitcoin.com News reported on the Mt Gox rehabilitation plan nearing the end of the road at the end of October 2022. Under the existing plan, creditors have a number of repayment options.
Creditors have until March 10 to choose a repayment scheme, and payments are expected to happen around September 2023. The 142,000 bitcoin (BTC) today is worth more than $3.36 billion using current exchange rates.
Creditors who choose this channel must submit basic KYC or AML information to take advantage of a crypto exchange to receive a refund.The most important ones are, first, whether to take an early lump sum payment or wait for further proceedings and additional asset recoveries and second, receiving funds in fiat or crypto,” explained the UBS strategists James Malcom and Ivan Kachkovski.
The UBS executives added:
New supply could still come to the market, but this at least implies it would be less concentrated.
There’s also a stash of 142,000 bitcoin cash (BCH) worth over $19 million and $510 million or 69 billion Japanese yen worth of cash. There is also a reserve of 142,000 bitcoin cash (bch) with a value of more than 19 million dollars and 510 million dollars or 69 billion Japanese yen in cash.
Users seeking payment in crypto must register and register for a centralized crypto exchange selected to manage the refund option. Creditors who choose that route must submit basic welfare and anti-money laundering information to obtain a refund for a crypto exchange. Although it may not be important, the ubs strategists have noted that there is still potential for fluctuations in the value of bitcoin in the middle of mt disbursement.
“Although it may not be important, UBS policy makers noted that there is still a potential for fluctuations in the value of Bitcoin in the middle of Mt's disbursement. Google Linux. "it is certainly difficult to estimate how far the market has set prices for mass sales from mt gox.
However, we believe that this news could have been an additional factor for what we believe could be primarily to the directed retail — surprising resilience of late bitcoin," kachkovksi and Malcolm's note concluded. Do you agree with the prediction of policy makers that future payments mt gox will have minimal impact on the value of Bitcoin? Or do you see a possibility of larger fluctuations?
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