Bitcoin News on Nostr: Bitcoin Price Faces Pressure as Mt. Gox Begins $9.4B Repayment. Bitcoin (BTC), the ...

Bitcoin Price Faces Pressure as Mt. Gox Begins $9.4B Repayment. Bitcoin (BTC), the world’s leading cryptocurrency has come under intense scrutiny as Mt.Gox commences a $9.4 billion repayment to investors. According to reports, 137,890 BTC coins were moved out of wallets belonging to Mt.Gox to creditors.The movement of the large amount of BTC raises concerns about a potential sell-off that could drive down the price of Bitcoin. As a reminder, Mt.Gox was one of the largest Bitcoin exchanges before it was hacked in 2014. Following reports from Crypto News Flash, the exchange processed 70% of all Bitcoin transactions worldwide at the time. Following the hack, it reported 840,000 BTC in stolen funds.