- MtGox Investment Funds choose early payout in September without litigation
- The fund will receive 90% of the invested funds, and most of them in BTC
- A source in the company says that the organization does not plan to sell assets
- This will dispel traders’ fears that the BTC rate will collapse due to Mt.Gox payouts.
Finally, in the case of Mt.Gox, noticeable progress has appeared. According to the latest information, the exchange’s creditors can apply for compensation up to April 6. But at the same time, members of the cryptocurrency community are concerned about the possible drawdown of the rate due to the release of a large amount of BTC.
There were similar fears in August, when information about compensation from the site first appeared. And given that the two largest Mt.Gox lenders, Bitcoinica and MtGox Investment Funds (MGIF), have chosen to pay out in BTC, these fears are by no means unfounded.
The situation was commented in the fund, trying to calm the traders. MGIF, like other lenders, will receive compensation of 90% of the invested funds, 70% in BTC and 30% in fiat.
The exact amount of bitcoins is not specified. But, most importantly, the fund does not plan to sell the received BTC. This is stated Bloomberg citing your source.
MGIF expects full compensation in September. Presumably, its exact amount will be known closer to this date. But anyway, this is good news.
As a reminder, if the mentioned creditors had chosen to pay out in fiat, then Mt.Gox would have to liquidate the crypto portfolio. It contains about 130 thousand BTC. This will destabilize the market and simply bring down the course.
Bitcoinica has not yet commented on its decision and has not named the exact amount of compensation. But, surprisingly, there are quite a lot of those who have chosen to pay out in BTC. And not all of them are going to immediately sell the “coins”, since the asset rate remains low.