Unchained

Why the Mt. Gox Repayments May Not Hurt the Bitcoin Price Much - Ep. 666

Listen Later

Ten and a half years after filing for bankruptcy, Mt. Gox is finally set to disburse 142,000 Bitcoin worth nearly $9 billion to creditors between July and October. 

Market concern has been growing over the potential impact on Bitcoin prices, but Alex Thorn, head of research at Galaxy, explains why only a small fraction of those bitcoins will be sold. He also discusses the implications of this redistribution on the market, the potential success of Ethereum ETFs, and the chances of a Solana ETF approval.

Show highlights:

  • 00:00 Intro
  • 02:04 Why Alex estimates the amount of bitcoins that creditors sell will be a tiny fraction of the 142,000 to be repaid 
  • 13:35 What market shocks could arise from Mt. Gox creditors receiving billions in Bitcoin, and why he believes Bitcoin Cash is the real wild card
  • 18:18 Whether Ethereum ETFs could be as successful as Bitcoin ETFs in attracting investors
  • 23:06 Whether potential outflows from Grayscale's Ethereum Trust will dampen the excitement around Ethereum ETFs
  • 25:07 How the combination of Mt. Gox repayments, Ethereum ETFs, and German and American government Bitcoin sales might affect crypto prices
  • 27:32 The chances the SEC approves a spot Solana ETF


    • Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com

    Thank you to our sponsors!
    • iTrustCapital
    • Polkadot
      • Guest
      • Alex Thorn, head of research at Galaxy
      • Previous appearance on Unchained: How Much Money Will Flow Into Bitcoin ETFs? Here’s One Projection
        • Links

        Mt. Gox.

        • Unchained: Crypto Market Sees $300 Million Liquidated as Bitcoin Briefly Drops Below $59,000
        • CoinDesk: Mt. Gox to Begin Repayments in July

          • Governments selling:

          • Unchained: US Government Sends $241 Million in Bitcoin to Coinbase: Arkham
          • Cointelegraph: German gov’t offloads 900 Bitcoin, 400 BTC sent to Coinbase and Kraken

            • Solana ETF

            Reuters: Investment manager VanEck files to list first spot Solana ETF in US |

            Learn more about your ad choices. Visit megaphone.fm/adchoices

            ...more
            View all episodesView all episodes
            Download on the App Store
            UnchainedBy Laura Shin
            • 4.6
            • 4.6
            • 4.6
            • 4.6
            • 4.6

            4.6

            1,182 ratings

            More shows like Unchained

            View all
            CoinDesk Podcast Network by CoinDesk

            CoinDesk Podcast Network

            641 Listeners

            The Pomp Podcast by Anthony Pompliano

            The Pomp Podcast

            1,835 Listeners

            The Breakdown by Blockworks

            The Breakdown

            747 Listeners

            On The Brink with Castle Island by Castle Island Ventures

            On The Brink with Castle Island

            288 Listeners

            What Bitcoin Did by Danny Knowles

            What Bitcoin Did

            254 Listeners

            Bankless by Bankless

            Bankless

            1,047 Listeners

            The Wolf Of All Streets by Scott Melker

            The Wolf Of All Streets

            232 Listeners

            Empire by Blockworks

            Empire

            167 Listeners

            Supply Shock by Blockworks

            Supply Shock

            111 Listeners

            Coin Stories by Natalie Brunell

            Coin Stories

            426 Listeners

            Raoul Pal: The Journey Man by Real Vision Podcast Network

            Raoul Pal: The Journey Man

            126 Listeners

            The Milk Road Show by The Milk Road Show

            The Milk Road Show

            40 Listeners

            web3 with a16z crypto by a16z crypto, Robert Hackett, Sonal Chokshi

            web3 with a16z crypto

            62 Listeners

            Bell Curve by Blockworks

            Bell Curve

            32 Listeners

            1000x by Blockworks

            1000x

            5 Listeners