In a recent twist in the ongoing Mt. Gox saga, prominent Bitcoin advocate Samson Mow has played down apprehensions regarding the release of Gox coins. The issue emerged when Mt. Gox purportedly sent emails to users, seeking confirmation of their ownership of exchange address accounts linked to Bitcoin payments.
Amid ongoing compensation payouts to creditors in Japanese yen through PayPal, set to extend into 2024, Mow addressed speculations surrounding the distribution of Mt. Gox’s substantial holdings. The exchange plans to distribute 142,000 BTC, 143,000 BCH, and 69 billion yen among its creditors.
Known for championing the “$1 million per BTC” narrative, Mow dismissed the significance of unlocking Gox coins. He argued that creditors, having endured a decade-long “HODLing” period, are unlikely to hastily sell. Mow emphasized that even if some choose to sell, it won’t result in a mass exodus, and the market can easily absorb any potential influx.
“Number go up” Responding to a follower’s concerns about market impact, Mow remained confident, asserting that the economic weight of potential sellers is not a cause for worry. The Bitcoin enthusiast urged creditors, initially seeking fiat gains, to reconsider their decision in light of the Bitcoin’s “number go up” phenomenon, questioning what alternative assets could offer comparable gains.
As Mt. Gox progresses with its compensation process, the crypto community observes closely, with Mow’s dismissal of concerns offering a counter-narrative to fears about the potential market impact of the coin liquidation from the infamous exchange.
