New Poll Reveals What Will Bitcoin Investors Do After Mt. Gox Repayment

A question that has been on the mind of most crypto investors is what will happen after Mt. Gox distributes user compensations - will there be a massive sell-off, or will people hold?

A recent Reddit survey reveals that over half of Mt Gox creditors plan to keep their repayment Bitcoin (BTC) rather than sell it.

As the long-awaited distribution of assets begins after a decade, many creditors are optimistic. However, market analysts are concerned about the potential impact if a significant number of creditors decide to sell their Bitcoin.

More than 50% of Mt Gox Creditors to Hold Bitcoin According to a Reddit poll, 55% of Mt Gox creditors do not plan to sell their Bitcoin once they receive it. Out of 467 respondents, 260 indicated they would hold onto their assets. In contrast, 18% (88 voters) intend to sell all their Bitcoin, while the rest plan to sell only a portion.

The varying intentions are likely due to Bitcoin’s substantial growth and adoption over the past decade. This year, Bitcoin hit a record high above $73,000 following the SEC’s approval of spot Bitcoin ETFs. Some creditors see this as an opportunity to cash in, while others prefer to wait for potential further appreciation.

Bitcoin Repayments and Market Impact Mt Gox has announced it will start repaying creditors this month, distributing around 140,000 Bitcoin valued at approximately $9 billion. This marks a significant milestone, considering the 9,000% increase in Bitcoin’s value over the past ten years.

The primary concern is how the market will react if many creditors sell their Bitcoin. For instance, a recent Bitcoin sale by the German government led to a price drop to $55,000. However, some market observers believe the impact of Mt Gox creditors’ sales will be mitigated by the involvement of institutional investors, who may absorb the additional supply.