A new sellout by the Tokyo Whale in the Mt. Gox wind-down is apparently what is causing the Bitcoin price to drop lately – and a topic that is present in every portal covering the latest Bitcoin news.
The trustee liquidated cryptocurrencies on behalf of the defunct exchange Mt. Gox – offloading another 25.98 billion yen (approx. $230 million) of Bitcoin and Bitcoin Cash. The disposals were made in the period since the 10th creditors in a meeting that was held on March 7th, according o Nobuaki Kobayashi said in a statement on Tuesday.
Currently, many digital coin investors are following the moves of Kobayashi who is known as the “Tokyo Whale” because of the heap of tokens that he controls. Meanwhile, the Japan-based Mt. Gox which was once the largest Bitcoin exchange, filled for protection from creditors about 4 years ago.
The defunct company later said that it recovered about 200,000 Bitcoins and blamed the Bitcoin hackers for the loss. The latest disposal, however, received an average price of $8,100 per Bitcoin, according to some calculations.
As a result, the pricec of Bitcoin fell by 3% and is currently trading at $6,418.
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