Mt Gox: $ 400 million sale of BTC & BCH
The body that deals with the dissolution of Mt Gox has just sold more than 400 million dollars in cryptocurrencies. Thus, exactly 35,841,00701 bitcoins and 34,008,00701 bitcoins were sold.
Nobuaki Kobayashi - the attorney for Mt Gox - was responsible for making the sale. He stated :
"Following consultation with the court, I felt it was necessary and reasonable to sell a certain amount of BTC and BCH at this stage. [...] I have done everything to sell BTC and BCH at the highest possible price given the market price of BTC and BCH at the time of the sale. "
According to the report, Nobuaki Kobayashi could very soon make another sale. Reminder there are still 166,344 bitcoins to sell!
He sold At The Market instead of selling OTC, where the transaction would bypass the exchanges and would not create pressure on the prices. He is either an incompetent or a market manipulator. Either way, he should be prosecuted and arrested.
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This is serious money that will have significant effect on the price of bitcoin and bitcoin cash.