Bitcoin Alert: Mt. Gox Starts Repayments With Small Exchange Transfer
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Mt. Gox has started repaying its creditors by transferring small amounts of Bitcoin to exchanges like Bitbank, marking the beginning of disbursement plans involving around $8.2 billion in Bitcoin. This process, which has been in speculation for months, has seen initial small transfers, possibly as a test. Observers are unsure about the exact repayment timeline. The Mt. Gox Rehabilitation Trustee has indicated the process would start in July but hasn't confirmed specific dates. This comes at a volatile time for Bitcoin, which has dropped more than 20% from its peak. Peter Chung from Presto Research predicts significant trading opportunities between BTC and BCH due to the repayments, expecting varying impacts on both cryptocurrencies. Chung suggests market-neutral trading strategies for investors, emphasizing the higher selling pressure on BCH compared to BTC.
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