After Kraken finished distributing Bitcoin and Bitcoin Cash tokens to Mt. Gox creditors, another exchange has started the distribution process.
Bitstamp has officially started distributing crypto coins to Mt. Gox creditors.
This could be another sell-off event that could put additional preassure to Bitcoin’s price and extend the downturn.
At the time of writing Bitcoin is trading at $64,250 after a 3.25% decline in the past 24 hours and has a trading volume of around $35.3 billion.
The whole cryptocurrency market lost 4.34% in the past 24 hours, dropping to $2.31 trillion, following the massive stock market crash that liquidated over $1 trillion.
This stock market crash has been the worst 1-day drop since 2022 and the market optimism is waning.
Mubadala Investment Company, one of Abu Dhabi’s largest state-backed investors, has been quietly deepening its position in BlackRock’s flagship Bitcoin ETF—even as the market cooled in early 2025.
Bitcoin’s rise past $104,000 this year hasn’t silenced its skeptics. In fact, 2025 has already seen 11 new “death” claims — public declarations that the cryptocurrency is doomed — surpassing last year’s total.
Economist and gold advocate Peter Schiff has renewed his criticism of the crypto market, but this time, his focus isn’t just Bitcoin—it’s the growing trend of companies whose business models revolve entirely around holding the digital asset.
BitMEX co-founder Arthur Hayes believes Bitcoin could hit the $1 million mark within the next three years—and it all comes down to economic policy and political cycles.