A recent survey conducted in the MtGox forum on Reddit has shed light on users’ intentions regarding the sale of bitcoins following the platform’s promised compensation. The poll asked members what percentage of their bitcoins they planned to liquidate immediately after receiving their funds. A total of 467 members participated in the voting, revealing a predominant sentiment: 55% of respondents, or 260 users, indicated they do not intend to sell their bitcoins.
This hesitance contrasts sharply with the 88 members—18% of the voters—who expressed plans to sell all of their bitcoins. Additionally, 68 participants, accounting for about 15% of the total, stated they would sell between 1% and 25% of their holdings, while 26 individuals, approximately 6%, intended to liquidate between 25% and 50% of their bitcoins.
The main goal of the survey was to gauge the potential selling pressure that could arise from users affected by the Mt. Gox situation. This exchange experienced one of the largest cryptocurrency hacks in 2014, leading to the loss of 850,000 bitcoins, and its repercussions are still felt in the market today. Although Mt. Gox has managed to recover about 20% of the stolen tokens, they have postponed the final deadline for reimbursing creditors to October 31, 2024—a delay that marks nearly a decade of waiting for some form of resolution.
The platform’s administrators confirmed this new timeline, which extends well beyond the initial target date. Meanwhile, analyses, such as one from UBS, suggest that the payment of bitcoins from Mt. Gox could influence cryptocurrency market prices, though significant destabilization is not anticipated. The UBS report noted that “the payment from Mt. Gox may have some impact on bitcoin prices due to the volume of tokens being released, but it would not destabilize the market.”
**Disclaimer:** The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment, or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.
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