K33 Research: Mt. Gox may distribute $9 billion in BTC to creditors soon, which could put pressure on BTC prices

ChainCatcher news, according to CoinDesk, the cryptocurrency research firm K33 Research has released a report stating that the previously bankrupt cryptocurrency exchange Mt. Gox, which went under due to a hacker attack, is preparing to distribute approximately 142,000 bitcoins (BTC) and 143,000 bitcoin cash (BCH) to creditors, with a total value exceeding $9 billion. Analysts Anders Helseth and Vetle Lunde indicated that this massive release of cryptocurrency from Mt. Gox "could become a relevant negative price influence in the coming weeks."

Recently, Mt. Gox creditors saw updates to their claims for BTC and BCH in the exchange's claims filing system, which may indicate that Mt. Gox will make early payments to creditors. Previously, the Mt. Gox trustee had set the deadline for creditor payments to October 31, 2024.

It is reported that in mid-March, creditors also saw updates to their fiat currency payment information, with several users claiming to have received transfers. K33 analysts speculate that if the cryptocurrency payment process is similar to that of fiat payments, creditors may start receiving digital assets as early as next month.