In a new development pertaining to the Mt. Gox tale, well-known Bitcoin supporter Samson Mow has played down worries about Gox money being unlocked. The dispute started when individuals claimed to have received emails from Mt. Gox asking for proof that they were the owners of the exchange address accounts linked to Bitcoin payments.
While creditors are still getting paid in Japanese yen via PayPal, and the repayment schedule is supposed to last until 2024, Mow talked about the rumours regarding the disclosure of Mt. Gox’s huge holdings. The exchange plans to pay out 69 billion yen, 142,000 BTC, and 143,000 BCH to its creditors.
Known for his ardent belief in the “$1 million per BTC” story, Mow claimed that the Gox coin unlocking is not a major element. He made the argument that creditors are unlikely to sell quickly after going through a ten-year “HODLing” phase. Mow stressed that even if some decide to sell, there won’t be a large-scale departure because the market can readily handle the possible inflow.
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“Number go up”
In response to a follower’s worries about the effect on the market, Mow reaffirmed his optimism by saying that there is no need to be concerned about the possible sellers’ financial weight. In light of the Bitcoin’s “number go up” phenomena, the bull market for the cryptocurrency advised creditors—who may have originally pursued monetary gains—to rethink their choice and explore whether other assets may yield returns that would be equivalent.
The cryptocurrency community is keeping a close eye on Mt. Gox as it proceeds with its compensation procedure, and Mow’s disclaimer of any worries offers a counterargument to those who are worried about the possible effects on the market of the exchange’s coin liquidation.
