Mt. Gox Creditor to HODL $1B in Bitcoin Despite Bankruptcy Payout

• The Mt. Gox Investment Fund, the biggest creditor of the bankrupt bitcoin (BTC) exchange, has announced that it will not sell coins it will receive later this year.
• Creditors have until April 6 to decide whether to receive payment in September or wait for better claims.
• The trustee held 141,686 BTC as of September 2019, in addition to 69 billion Japanese yen and 143,000 Bitcoin Cash (BCH).

Mt. Gox Creditor’s Decision

The Mt. Gox Investment Fund, the biggest creditor of the bankrupt bitcoin (BTC) exchange, has announced that it will not sell the coins it will receive later this year. According to reports on March 9th, The Mt. Gox Investment Fund intends to keep the assets due to it in September instead of selling them on the market.

Creditors Deadline

Creditors of Mt. Gox have until April 6th to decide whether they want to receive payment in September or wait for a possible better claim outcome from litigation still ongoing with respect to other creditors‘ claims against Mt. Gox. If creditors do not complete their selection process by April 6th then they will not be able to access any repayments from Mt. Gox at all this year.

Mt.Gox Reserves

At the time of its bankruptcy filing in 2014, Mt.Gox had held 141,686 BTC as well as 69 billion Japanese Yen and 143,000 Bitcoin Cash (BCH). In 2021 creditors approved a rehabilitation proposal which includes early payments being made out in September instead of waiting on all litigation outcomes before payouts commence – expected at 90% of what is collectible with 70% being bitcoin and 30% cash; however no details on how much BTC were provided by Mt.Gox’s bankruptcy trustee yet revealed at this stage..

Price Impact

Crypto investors raised concerns about potential price impacts if so many coins flood into the market after being released by The Trustee – but with The Investment Funds decision those fears could be somewhat alleviated – as even if other creditors opt for sale rather than hodling there may be less impact than first thought with an estimated 799k BTC up for grabs between now and when payments are received in September 2021 should all parties opt for early payout rather than wait for resolution via legal means..

US Government Seizures

In other news approximately $1 Billion worth of bitcoins have been moved from wallets linked to US Government law enforcement seizures recently reported on March 8th according to crypto news sources – potentially adding another interesting twist in proceedings concerning funds related / lost from MTGOX exchange activities over past years since its closure in 2014..