Mt gox trustee responsible for the btc drop to 6k in January.....WITH MORE TO COME:UPDATE 3!
I was going to wait to post another story, but this was to big to pass up.
https://captainaltcoin.com/now-we-know-who-sold-the-bottom-at-6k-and-tried-to-crash-bitcoin/
You read that correctly. A Mt Gox trustee began the selloff on the btc remaining to repay creditors and the other victims who lost alot in mt gox. As it stands, hes sold over 18k btc so far. HE HAS 180K LEFT TO SELL. This is not the news we wanted to hear. This will very well destroy any major growth this year. I cant say for sure now if its safe to buy anymore currently. Start thinking about your savings, and judge accordingly. Since I personally bought in rather low, I'm going to ride this out until the end. Ill keep updating this post when more info leaks out.
Edit 1: looks like it was a total of 40k BTC sold.
Edit 2: well, looks like the selling isn't over, as I thought.
Edit 3: the man who did the selling
And here's the link talking more about the man himself, along with details of the sell. https://www.zerohedge.com/news/2018-03-07/bitcoins-tokyo-whale-sells-400m-bitcoin-bitcoin-cash
Hello mrbearbear!
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So keep some dry powder...fire sale is coming. I fully anticipate a retest of the bottom.
Im kinda expecting the same thing. 180k btc is enough to crumble the market. But the silver lining is the guy seems to be spreading out the sells.
Could just as easily offer it at a public auction or OTC sales without tanking the price. US Marshall Service auctioned off 144k BTC from Ross's Silk Road BTC, rather than placing market orders and tanking the price.
If his intentions are to get the highest price possible, it seems neglegent to not explore an auction or a OTC sale. This implies his motives aren't consistent with his legal responsibility as a trustee, or that he is unaware of these alternatives, imho.
It's funny you mention that. The guy who runs kraken posted on Reddit about the trustee approaching him. He ADVISED NOT to do what they did, instead do an auction. They were even willing to host it.
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