The
Tokyo attorney and bankruptcy trustee for the now-defunct Mt. Gox
exchange disclosed on Wednesday that he sold about $400 million of
Bitcoin and Bitcoin Cash since late September. Kobayashi, who’s
liquidating the tokens on behalf of Mt. Gox creditors, has another $1.9
billion to offload.
Once
the world’s biggest Bitcoin exchange, Mt. Gox filed for bankruptcy
protection four years ago after disclosing that it lost 850,000
Bitcoins, then worth about $500 million. The company, which later said
it recovered about 200,000 Bitcoins, blamed hackers for the loss.
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While
Kobayashi didn’t provide details of his strategy for selling the coins,
he said he tried to get “as high a price as possible.” Disclosures in
his report on the Mt. Gox website suggest his Bitcoin sales since
September fetched the equivalent of $10,105 on average. The
cryptocurrency was trading at $10,031 as of 6:45 a.m. Hong Kong time on
Thursday.
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