The data agency assumes that more Bitcoin repayments from the dysfunctional crypto platform might be coming soon to its creditors.
This year, Mt. Gox planned to finally begin compensation repayments to its customers. In total, 142,000 Bitcoin and 143,000 Bitcoin Cash were expected to be paid out in addition to $69 billion yen in fiat.
In July, the platform transferred 140,000 Bitcoin valued at roughly $9 billion at the time to various centralized exchanges – Bitstamp, Kraken, BitGo – as it began to prepare for the aforementioned payouts.
As reported by U.Today earlier, on Aug. 21, Mt. Gox transferred $709 million worth of Bitcoin to the Bitstamp exchange. On Aug. 14, the platform shoveled 33,141 Bitcoin (valued at approximately $2 billion) to a new blockchain address in preparation for the payouts. A total of 117 BTC was sent to the OKX exchange (the equivalent of roughly $7 million).
Pompliano (known to the global cryptocurrency community as Pomp) told CNBC host Andrew Sorkin that he believes Bitcoin to be the best performing asset this year, while gold and oil futures come right after it in terms of gains.
He stated that last year he sold all of his Ethereum and acquired Solana instead, trusting that the Solana chain offers a better technology than the second largest crypto platform.
As for Bitcoin’s price, Pompliano reckons that due to the recent Fed rate cut and a similar measure announced by the Central Bank of China (PBOC), they are going to attract a lot of cheap capital to the market, and this is where Bitcoin “ends up being a big winner,” Pompliano said.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
