The nearly $9 billion in Mt. Gox creditor repayments starting July may not kick down the price of Bitcoin, but they could spell trouble for Bitcoin Cash.
Mt. Gox’s scheduled repayment of $8.5 billion worth of Bitcoin (BTC) to creditors next month may not cause as much mayhem for the price of Bitcoin as many expect, say analysts.
IG Markets analyst Tony Sycamore told Cointelegraph there were simply too many historical factors to make a concrete prediction about the impact of the upcoming repayments, but estimated around half of the total Bitcoin — roughly $4.5 billion worth — could be set to hit the market beginning in July.
Mt. Gox was a Japanese cryptocurrency exchange that collapsed after being hacked in February 2014. The exchange lost around 940,000 BTC, which was worth just $64 million at the time.
