{"id":74832,"date":"2023-03-01T15:57:31","date_gmt":"2023-03-01T13:57:31","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=74832"},"modified":"2025-09-10T01:57:19","modified_gmt":"2025-09-09T22:57:19","slug":"ubs-doubts-large-bitcoin-risk-from-mt-gox-payouts-to-clients","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/ubs-doubts-large-bitcoin-risk-from-mt-gox-payouts-to-clients\/","title":{"rendered":"UBS doubts large Bitcoin risk from Mt Gox payouts to clients"},"content":{"rendered":"

Upcoming payments to victims of Mt.Gox’s bankruptcy are not a cause for concern about the stability of Bitcoin’s price. The Block<\/a> reports, citing UBS analysts.<\/p>\n

Creditors by March 10 decide<\/a> in what form and within what timeframe they are prepared to receive compensation.<\/p>\n

UBS strategist Ivan Kachkovski explained that the option of an early lump-sum fiat payout would lead to sales of the first cryptocurrency. This could confirm “long-standing fear that Mt.Gox settlement would damage Bitcoin’s price.”<\/p>\n

He noted that the trustee has managed to restore access to 142,000 BTC, 143,000 BCH, 69 billion Japanese yen (~$505,000) \u2014 “about 20% of the hack.”<\/p>\n

The amount in the first cryptocurrency is equivalent to 16% of its daily turnover.<\/p>\n

\n

“The size may seem insignificant \u2014 it would amount to roughly 90% of the average volume offered over the last day, 28% over the last week and 10% over the last month”<\/em>, the expert calculated.<\/p>\n<\/blockquote>\n

As the active supply grows, all else equal, the risks of a price drop for the asset rise, the strategist explained.<\/p>\n

Kachkovski questioned whether the exchange would see the full volume of compensation payments received by the affected clients. The analyst suggested that most of them are likely hodlers.<\/p>\n

The two largest creditors of the exchange with 20% claims have chosen<\/a> to be paid in cryptocurrency.<\/p>\n

While other creditors may mount selling pressure, their actions will be “less concentrated,” the strategist added.<\/p>\n

\n

“Definitely, it’s difficult to assess to what extent the market has priced in Mt.Gox clients’ sales. Nevertheless, we think such news could be an additional factor driving BTC’s remarkable resilience recently”<\/em>, concluded Kachkovski.<\/p>\n<\/blockquote>\n

Mt.Gox, once the largest Bitcoin exchange, collapsed in early 2014. This followed reports of its alleged hacking and theft of 800,000 BTC ($480 million at the time).<\/p>\n

The process of reimbursing creditors began in 2018. Since then, many in the community have warned that around 150,000 BTC (~$3.6 billion at the time of writing), which could be transferred to users of the exchange, could enter the market and trigger a crash.<\/p>\n

Mt.Gox trustee Nobuyaki Kobayashi began preparations<\/a> for compensation payments in July 2022.<\/p>\n","protected":false},"excerpt":{"rendered":"

Upcoming payments to victims of Mt.Gox’s bankruptcy are not a cause for concern about the stability of Bitcoin’s price. The Block reports citing UBS analysts.<\/p>\n","protected":false},"author":1,"featured_media":74833,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[136,1138],"class_list":["post-74832","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-mtgox","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"15","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/74832","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=74832"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/74832\/revisions"}],"predecessor-version":[{"id":74834,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/74832\/revisions\/74834"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/74833"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=74832"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=74832"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=74832"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}