Mt. Gox Repayment Delay to 2025 Eases Bitcoin Sell Pressure Concerns

Key Points:

• Mt. Gox Repayment Delay to 2025 eases immediate Bitcoin sell pressure, with $2.8B still held in linked wallets.
• The Mt. Gox Repayment Delay to 2025 reduces concerns about a potential Bitcoin market flood, according to analysts.

Mt. Gox repayment delay to 2025, reducing immediate concerns over Bitcoin sell pressure, with $2.8B still held in linked wallets.

Mt. Gox Repayment Delay to 2025: Easing Bitcoin Sell Pressure

Mt. Gox trustee delayed the repayment to creditors by one year until October 2025. The delay, in turn, would allay some concerns over a possible supply glut in Bitcoin that might affect market prices, given the remaining $2.8 billion in crypto wallets related to the defunct exchange.

Although Mt. Gox has already returned a total of $6 billion of assets, creditors are still waiting for the rest to be paid out. According to Coinbase analysts, the delay may decrease concerns about the short-term volatility of Bitcoin’s supply overhang, according to CoinDesk.

Read more: Mt. Gox Repayment Continues 33% Remaining With Latest Test Transactions

Impact of Mt. Gox Repayment Delay on Bitcoin Market

The one-year delay of the Mt. Gox payments to 2025 would likely alleviate concerns about a sudden influx of Bitcoin into the market. Still having $44,900 BTC in wallets, the delay may help steady prices.

Analysts believe that though the delay might reduce the pressure shortly, there is still some room for volatility once the funds on the chain start to move once again at the beginning of 2025.