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.
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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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