Unlock Event
At the peak of the bull market in 2013, Mt. Gox, an exchange headquartered in Tokyo.Processed more than 70% of Bitcoin transactions worldwide.The exchange suspended withdrawals in early February 2014 after claiming to have detected suspicious activity in its wallet. The exchange suspended withdrawals in early February 2014 after claiming to have detected suspicious activity in its wallets.Then I found out that the company had no access to 850,000 Bitcoins.。
Only 150,000 Bitcoins were reportedly recovered from the loss.This incident led to the bankruptcy of Mt. Gox.In April 2014, the company was ordered to liquidate. At the end of 2021, the creditors, who were also the victims of the incident, reached an agreement with the Tokyo District Court on a restoration plan, ending the seven-and-a-half-year lawsuit, and Mt. Gox creditors received a letter on the 6th of this month, which was acknowledged by the lawyer of the trustee of Mt.Mt. Gox account holders will receive compensation.
Extremely high selling pressure
Mt. Gox's Linked Wallet Shows Current Balance of 138,000 Bitcoins。
Consider the bull market peak in 2013, when the price was around $1,160.If the victim buys Bitcoin for a period of time, at the current price of Bitcoin, the entire increase is about 18 times.。
If the current price of BitcoinAbout 140,000 soon-to-be-unlocked Bitcoins worth about $3 billion.。
The creditor can sell the money on the market for cash immediately after receiving the money.This could lead to potential selling pressure on prices.