Mt Gox Trustee Sells $400 Million in Bitcoin and Bitcoin Cash

  • As much as $400 million in cryptocurrencies was sold in the past few
    months by the bankruptcy trustee of the now-defunct Japanese bitcoin
    exchange Mt Gox.

    The details of the sale were published on March 7 by trustee Nobuaki
    Kobayashi, revealing that JPY 42,988,044,343 – an amount worth roughly
    $405 million at press-time prices – was generated. According to the
    creditor report, the trustee liquidated 35,841.00701 BTC
    and 34,008.00701 worth of bitcoin cash.

    “As a result of the consultation with the court, I considered it
    necessary and reasonable to sell a certain amount of BTC and BCC at this
    point and secure a certain amount of money for distribution resources,
    and thus, I sold the amount of BTC and BCC above. I made efforts to sell
    BTC and BCC at as high a price as possible in light of the market price
    of BTC and BCC at the timing of sale.”

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