Mt. Gox, once the world’s largest Bitcoin exchange until it was shut down in 2014 following a series of hacks, has begun paying back billions of dollars in BTC to customers. However, the deadline to complete that process has been pushed back, and Bitcoin’s price has since risen.
After falling below $59,000 on Thursday, Bitcoin is now above $62,200, up nearly 3% in the past 24 hours. Traders said a delay in Mt.Gox’s repayments could reduce selling pressure on the market as billions of dollars worth of bitcoin could stop flowing to users who might dump it for cash. They may be reacting to the idea that there is.
In a notice posted on Thursday, the Mt Gox Regeneration Team said that due to various issues, with the permission of the court, the repayment period will be extended for a full year from October 31 of this year to the same date in 2025. announced that it would be extended. up during the process.
Editor’s note: This article is breaking and will be updated with more details.
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