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The catastrophe that was the Mt. Gox hack made headlines back in 2014. It was a devastating blow for many investors, who saw their life savings vanish overnight as over 800,000 bitcoins were stolen from the exchange. The aftershock rocked the crypto industry and sent prices plunging as fear and uncertainty spread.
Eight years later, Mt. Gox is in the news again — good news, that is. The failed BTC exchange has announced plans to return creditor assets, or at least some of them.
So, what happens when Mt. Gox starts returning BTC to creditors? Will the beneficiaries offload their reclaimed BTC all at once? Will this reparation torpedo the price of BTC, or will its impact be negligible?
Let's look at the possible scenarios in the aftermath of the Mt. Gox settlement — and what those could mean for BTC.