{"id":18228,"date":"2023-03-01T19:46:48","date_gmt":"2023-03-01T19:46:48","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/ubs-strategists-predict-minimal-impact-of-upcoming-mt-gox-payouts-on-bitcoin-value-bitcoin-news\/"},"modified":"2023-03-01T19:46:48","modified_gmt":"2023-03-01T19:46:48","slug":"ubs-strategists-predict-minimal-impact-of-upcoming-mt-gox-payouts-on-bitcoin-value-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/ubs-strategists-predict-minimal-impact-of-upcoming-mt-gox-payouts-on-bitcoin-value-bitcoin-news\/","title":{"rendered":"UBS Strategists Predict Minimal Impact of Upcoming Mt Gox Payouts on Bitcoin Value \u2013 Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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A recent report published by market strategists from the investment bank and financial services company UBS says that the upcoming Mt Gox payouts won\u2019t destabilize bitcoin\u2019s value. While a new supply will come to the market, UBS strategists insist that \u201cit would be less concentrated.\u201d<\/strong><\/p>\n

UBS Market Strategists Believe Mt Gox Payouts Won\u2019t Destabilize Bitcoin\u2019s Value<\/h2>\n

UBS market strategists think that the cause for concern over the upcoming Mt Gox distribution of 142,000 bitcoin (BTC)<\/a> may be a bit overhyped in regard to the \u201clong-held fear that Mt. Gox redemptions would hurt bitcoin\u2019s price.\u201d<\/p>\n

Bitcoin.com News reported<\/a> on the Mt Gox rehabilitation plan nearing the end of the road at the end of October 2022. Through the current plan, creditors have several options to choose from when it comes to repayments.<\/p>\n

Creditors have until March 10<\/a> to choose a repayment scheme, and payments are expected to happen around September 2023. The 142,000 bitcoin (BTC)<\/a> today is worth more than $3.36 billion using current exchange rates.<\/p>\n

\u201cThe most important ones are, first, whether to take an early lump sum payment or wait for further proceedings and additional asset recoveries and second, receiving funds in fiat or crypto,\u201d explained the UBS strategists James Malcom and Ivan Kachkovski.<\/p>\n

The UBS executives added:<\/p>\n

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New supply could still come to the market, but this at least implies it would be less concentrated.<\/p>\n<\/blockquote>\n

There\u2019s also a stash of 142,000 bitcoin cash (BCH)<\/a> worth over $19 million and $510 million or 69 billion Japanese yen worth of cash. Users looking to be paid in crypto must sign up and register for a selected centralized crypto exchange to handle the repayment option.<\/p>\n

Creditors choosing this route need to submit basic KYC\/AML information to leverage a crypto exchange to be reimbursed. While it may not be significant, the UBS strategists noted that there\u2019s still potential for fluctuations in Bitcoin\u2019s value amid the disbursement of Mt. Gox Bitcoin.<\/p>\n

\u201cIt\u2019s certainly difficult to estimate the extent to which the market has been pricing massive sales coming from Mt Gox. However, we think such news could have been an additional factor for what we believe could be mainly retail-led \u2014 Bitcoin\u2019s surprising resilience of late,\u201d Kachkovksi\u2019s and Malcolm\u2019s note concluded.<\/p>\n

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AML<\/a>, asset recoveries<\/a>, BCH<\/a>, Bitcoin<\/a>, BTC<\/a>, creditors<\/a>, crypto exchange<\/a>, Cryptocurrency<\/a>, disbursement<\/a>, Exchange rates<\/a>, Fiat<\/a>, Financial Services<\/a>, investment bank<\/a>, Ivan Kachkovski<\/a>, James Malcom<\/a>, KYC<\/a>, market<\/a>, market strategists<\/a>, Mt Gox<\/a>, payout<\/a>, prediction<\/a>, recovery<\/a>, repayment<\/a>, resilience<\/a>, retail<\/a>, sales<\/a>, Stash<\/a>, Strategy&<\/a>, UBS<\/a>, Value<\/a>, volatility<\/a><\/div>\n<\/div>\n

Do you agree with the UBS strategists\u2019 prediction that the upcoming Mt Gox payouts will have a minimal impact on bitcoin\u2019s value? Or do you believe there\u2019s a chance for more significant fluctuations? Let us know your thoughts in the comments section below.<\/strong><\/em><\/p>\n

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\nJamie Redman <\/h6>\n

\nJamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons, Editorial photo credit: Primakov \/ Shutterstock.com<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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