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.”