Unchained

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

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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 |

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            UnchainedBy Laura Shin