Over 137k bitcoin (~2.6b USD) will come back into circulation next month, as Mt. Gox starts settling its bankruptcy debts. Comparisson: when LNA sold ~80k BTC the price dropped >10k.
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The exchange Mt. Gox, that once handled over 70% of all bitcoin transactions, went bankrupt in 2014, after losing 86% of its funds due to a security flaw. And next month in August-2022, they will start paying back their customers with the 130k bitcoin they still hold (worth today ~2.6 billion USD) As a comparison: when the stablecoin LNA (missing a U in there to avoid spam protection) collapsed they sold around 80k BTC into the market, and at that time the price dropped over 10k USD in value (this doesn't mean the same will happen, this is not financial advice). Interesting times ahead. Check this video for more info: https://www.youtube.com/watch?v=rgpfGsLW7II submitted by /u/MrBluoe |
