Mt. Gox BTC Repayments On Bitstamp Are Imminent
The recent movements by the Mt. Gox-labeled wallets seem to be part of the ongoing repayment of $9 billion worth of BTC to creditors. At 6:30 a.m. UTC, the exchange transferred 2,238.87 BTC valued at approximately $150 million to Bitstamp.
Earlier this month, Bitstamp said that it would distribute the tokens to creditors as soon as they were sent to the platform. With the recent transfer from the Mt. Gox trustee, the distribution of the BTC is imminent.
Kraken, another exchanges selected by the Mt Gox trustee, received its share of the repayments last week. Meanwhile, Japanese exchanges Bitbank and SBI VC Trade have already received their portion of the BTC. These platforms seemingly distributed the allocated funds within hours after receiving them.
BTC Still On Track To Visit Its All-Time High
“Bitcoin is back in the range and provides a lot of strength,” he said in a July 22 X post.
#Bitcoin is back in the range and provides a lot of strength.Crucial areas to hold:
– $65K
– $61.5-62.5K (pretty much range low).If that's going to happen this week, then we should be good for continuation toward the ATH. pic.twitter.com/NVxj3U3hsf— Michaël van de Poppe (@CryptoMichNL) July 22, 2024
He also noted that $65K and between $61.5K to $62.5K are technical supports that will need to hold this week. If BTC maintains a position above these price points, then the crypto “should be good for continuation towards the ATH,” he said.