Special Kind of Bitcoin Whale Has Sold $400 million Since September

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.


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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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CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com

Rene Peters is editor-in-chief of CaptainAltcoin and is responsible for editorial planning and business development. After his training as an accountant, he studied diplomacy and economics and held various positions in one of the management consultancies and in couple of digital marketing agencies. He is particularly interested in the long-term implications of blockchain technology for politics, society and the economy.

2 Comments
  1. Source for this information?

    • Check the tweet within the article and of course, go on blockchain explorer to find the transactions.

    Leave a reply