150,000 bitcoins were released to Mt. Gox creditors could cause major problems for the token. Analysts believe that Bitcoin’s value could tank as those coins are sold back into the marketplace. A November 16th notice from Mt. Gox Trustee Nobuaki Kobayashi notes that the rehabilitation plan to distribute 150,000 bitcoin is “final and binding.” This means that $8.5 billion of Bitcoin could flood the market all at the same time. The ball started rolling in 2018 when the rehabilitation plan was created to reimburse creditors of the defunct Japanese crypto exchange. If these tokens enter the market, Bitcoin’s price could drop 80 to 90%. At press time, Bitcoin was down 0.3%.
