We all know whales can manipulate bitcoin prices and they do it all the time. But this whale is a bit different. This is a japanese attorney and bankruptcy trustee of largest bitcoin exchange at its time – Mt.Gox.
His name is Nobuaki Kobayashi and he sold more than $400 million worth of bitcoins from September 2017 until now. And he also sold all the coins these bitcoin addresses received from numerous bitcoin forks – most notably bitcoin cash.
What did he do with the money? He will distribute and repay it to the creditors of Mt.Gox.
And that is not all – he has another $1.9 billion worth of tokens that he plans to sell in the upcoming period.
Mt.Gox went bankrupt four years ago after admitting they were hacked and robbed of 850,000 bitcoins – worth $500 million at the time. They managed to recover around 200k bitcoins.
Of course, Kobayashi is trying to sell bitcoins at highest possible price and he from his report, analysts say the average selling price was $10,105 since he started his selling spree back in September.
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Source for this information?
Check the tweet within the article and of course, go on blockchain explorer to find the transactions.