The post Analyst Predicts Less Severe Impact From Mt. Gox Bitcoin Payout appeared first on Coinpedia Fintech News
Alex Thorn, Galaxy’s Head of Research believes that the forthcoming distribution of more than 140,000 BTC from the defunct Mt Gox exchange will have a less severe impact than expected. The selling will mostly come from individual creditors, who are receiving less than half of the total 140,000 Bitcoin. According to Thorn, creditors are significantly skewed towards long-term Bitcoiners who would want their coins back rather than a USD-denominated payout. Thorn believes that the fear is being blown out of proportion as the individual creditors, that are expected to sell will only receive 65,000 BTC rather than 140,000 Bitcoins.