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Bitcoin Floats Near 4-Month Lows at $55K Mt. Gox Payout Fears Weigh.
In 2014, the Tokyo-based exchange Mt. Gox held 950,000 BTC before shutting down after an alleged hack. Recently, 140,000 BTC have been recovered by a trustee and are set to be returned to users who have waited 10 years. Bitcoin prices were near a four-month low of $55,000, with traders concerned about the potential market impact of this payout. The recovered BTC, worth about $9 billion, could lead many recipients to cash out. Back in 2014, Bitcoin was priced at around $300. The distribution date for these coins is still unknown, but 140,000 BTC represents about 0.7% of the current circulating supply of 19.7 million tokens. 1 reply
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