There is growing speculation that 150,000 Bitcoin (BTC) from the Mt. Gox trustee could move on Oct. 15. But many factors suggest that is highly unlikely given past records. Between 2011 and 2013, Mt. Gox lost 850,000 BTC in the biggest hacking attack in Bitcoin history. The trustee reportedly has 150,000 BTC to repay users who lost their funds from the breach.
Yet, there are many hurdles to undergo before the refunds can be issued. The refund process has been continuously delayed since 2019, and the refunds won’t likely happen anytime soon. On Jun. 30, the Mt. Gox trustee released a statement on the official Mtgox.com website. The trustee, in charge of redistributing the funds to former users, said the Tokyo District Court granted a deadline extension to Oct. 15. The document read:
“In light of the foregoing, the Rehabilitation Trustee filed a motion to seek an extension of the submission deadline of the rehabilitation plan at the Tokyo District Court, and, on June 30, 2020, the Tokyo District Court issued an order to extend the submission deadline for the rehabilitation plan to October 15, 2020.”
Based on this document, some investors have suggested it could cause 150,000 BTC to move, potentially rattling the market. But there are two key reasons the trustee would not move the Bitcoin in the near term.
Oct. 15 is not the actual deadline for user refunds and the trustee has delayed the process several times in the past. Based on these two factors, it is safe to presume that the 150,000 BTC from the Mt. Gox trustee won’t hit markets in the short term.
# | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
1 | ![]() |
Bitcoin predictions | 59.2% | 88 | $19 108.68 | -0.12% | -10.44% | $364 683 630 223 | ||
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Ethereum predictions | 54% | 93 | $1 051.12 | -1.09% | -14.27% | $127 610 536 230 | ||
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Tether predictions | 91.6% | 1 | $0.999042 | 0% | -0.04% | $66 018 262 534 | ||
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USD Coin predictions | 95.6% | 1 | $1.000039 | -0.01% | 0% | $55 804 793 378 | ||
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Binance Coin predictions | 65.2% | 75 | $216.74 | -0.87% | -9.37% | $35 388 059 426 | ||
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Binance USD predictions | 92.4% | 1 | $1.001586 | 0.07% | 0.28% | $17 575 061 690 | ||
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XRP predictions | 68% | 69 | $0.317499 | 1.53% | -12.57% | $15 348 864 758 | ||
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Cardano predictions | 66.8% | 72 | $0.448366 | -0.36% | -10.65% | $15 214 866 694 | ||
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Solana predictions | 68% | 70 | $32.77 | -0.23% | -19.15% | $11 253 894 583 | ||
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Dogecoin predictions | 66.8% | 62 | $0.066138 | 0.06% | -13.89% | $8 774 635 420 | ||
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Dai predictions | 94.8% | 1 | $1.000043 | -0.04% | 0% | $6 895 987 122 | ||
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Polkadot predictions | 68% | 67 | $6.72 | -0.01% | -16.62% | $6 636 204 716 | ||
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TRON predictions | 66% | 74 | $0.065733 | 3.58% | -3.47% | $6 079 571 196 | ||
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UNUS SED LEO predictions | 73.6% | 54 | $5.87 | 2.64% | -0.14% | $5 604 429 157 | ||
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SHIBA INU predictions | 71.2% | 63 | $0.000010 | 0.62% | -13.36% | $5 523 555 766 |
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