Mt. Gox extends the dates for the 141,000 BTC refund. What will happen to the crypto market?


It seems that finally Mt. Gox will return the 141,686 BTC to the victims after a massive hack in which the company lost in February 2014, a sum between 650,000 and 850,000 Bitcoins.

After eight years of waiting, MtGox declared a few weeks ago that it was working on a compensation plan that would allow victims to receive their funds.

A breather for the crypto market?

The date for the reintegration of the assets has recently been announced and we have to on January 10, 2023, the company will begin to return such fundsin which users can have the option of receiving their money either through BTC or through stable currencies.

This eliminates the possibility of a Bitcoin sell-off in 2022. But… how will the market react to this news?

The opinion of the analysts

According to Juan Rodriguez @juanbiter, renowned analyst and influencer in the crypto world. Because the vast majority of people expected that said funds would be repaid in this same year 2022, he points out that, setting this date could release bearish market pressurethis being one of the fundamental factors why the market has been lateralizing in recent months.

He also highlighted the following:

“Because of the way the process has been handled, slow and with many postponements, I would estimate that payments/sales start at least 2 months after January 10, 2023”.

John Rodriguez
Bitcoiner and content creator

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