Mt. Gox repayment date looming: Is Bitcoin in trouble?

While the cryptocurrency community is actively discussing the upcoming Bitcoin (

“Daily on-chain volumes are at an average of $12 billion, exchange volumes are reportedly in the neighborhood of $18 billion per day,” he noted, adding:

“So this is certainly something the market can absorb in a relatively short time frame. I would assume there may be some sell pressure due to the speculation around this event. Many people don’t know basic math.”

Greenspan also stressed that Mt. Gox’s Bitcoin will be distributed to lots of people, which could be very good for the network as a “mass-distribution event.”

“That’s a lot of OGs that will be reactivated. Some of them will sell and wash their hands but I bet many will be staunch advocates of self custody,” he added.

The exec also expressed optimism about the potential repayment, stating that Mt. Gox-related FUD has been “plaguing the market” for many years and it will be “good to see it finally put to bed.”

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