The Trustee of the bankrupt cryptocurrency exchange Mt. Gox denies that is the reason for the decline in price of bitcoin starting from December 2017.
In the “questions and answers” published on March 17, Nobuaki Kobayashi (Nobuaki Kobayashi) discussed the recent sale of bitcoins and Bitcoin Cash in the amount of about $ 400 million belonging to the bankrupt Mt. Gox.
“After consulting with experts on cryptocurrency I sold BTC and BCC not by conventional sale through a stock exchange BTC/BCC, and thus to avoid the influence of the market price, while ensuring the safety of the transaction to the extent possible,” said Kobayashi, using alternative Ticker symbol BCC Bitcoin for Cash, who usually signed by the BCH symbol.
However, Kobayashi refrained from revealing the exact details of how it was sold to the media.
The comments came in response to allegations linking the sales with the price drop of bitcoin and other cryptocurrencies.
We will remind that on March 7, Kobayashi presented a document containing information that in the period from December 2017 to February 2018 were sold 35 841 34 008 BTC and BCH, with about 18 000 BTC hit the market February 5 — the day of a significant fall in the prices of bitcoin.
Therefore, many industry representatives were confident that the intense volatility in the market contributed to this influx of bitcoins from sales of Kobayashi.
In the “questions and answers” Kobayashi wrote:
“Please, stop to analyze the correlation between our selling BTC and BCC and the market prices of the BTC and BCC based on the assumptions that the sale was done at a time when the BTC and BCC were transferred from managed my addresses because this assumption is wrong.”
In addition, the Trustee of the Mt. Gox indicated that the process of further sales of the remaining amount not yet determined. As of March 5, in charge Kobayashi was still 166 344 BTC which are based on the current exchange rate equivalent to 1.3 billion dollars.