Having bounced out of the “mystery dip-buyer” zone below $8,000, Bitcoin is back below it this afternoon, erasing Friday’s spike.
This move comes as “the man who crashed Bitcoin” denies it was his massive sales of Mt.Gox crypto assets caused the market’s demise.
As CoinTelegraph’s Molly Jane Zuckerman reports, the trustee of Mt. Gox – a once major and now defunct Bitcoin exchange – who reportedly sold over $400 mln in Bitcoin (BTC) and Bitcoin Cash (BCH) around the new year has stated that he does not believe the sales affected the market prices of BTC or BCH, according to a report released today, March 17.
As CoinTelegraph’s Molly Jane Zuckerman reports
Today’s report is a transcript of a Q&A at the 10th Mt. Gox creditors’ meeting, which took place on March 7, 2018, about the selling of BTC and BCH by defunct exchange’s trustee Nobuaki Kobayashi.
The Japan-based Mt.Gox crypto exchange had been the largest in the world until a February 2014 hack led to the loss of around 850,000 BTC. The current sales of BTC and BCH by Kobayashi are part of an attempt to refund users who lost money in the hack.
An earlier report released March 7 to the Tokyo District Court had said that the BTC/BCH sales took place between the creditors’ meeting in September 2017 and the one on March 7. However the report released today clarifies that the sales took place between December 2017 and January 2018.
The March 7 report, which detailed the amount of Bitcoin and Bitcoin Cash sold by Kobayashi over this reported two month period, led many to believe that the large sell off is what led to the market crash after the new year.
Kobayashi noted that after consulting with cryptocurrency experts, he “sold BTC and BCC [BCH], not by an ordinary sale through the BTC/BCC [BCH] exchange, but in a manner that would avoid affecting the market price, while ensuring the security of the transaction to the extent possible.”
Leave A Comment