The ‘Mt Gox Whale’ Explains His Crypto-Selling Strategy

On March 17 the Mt Gox bankruptcy trustee Nobuaki Kobayashi revealed some critical information about how he’s been selling the BTC and BCH he has in his possession. The news may comfort those who believe the remainder of the Mt Gox sales will crash the market. According to Kobayashi he has been consulting cryptocurrency experts and selling in a manner that would avoid affecting the market price.

The ‘Mt Gox Whale’ Sold BTC and BCH Between December 2017 and February 2018 on Separate Occasions

The bankruptcy trustee from Tokyo, Nobuaki Kobayashi, is now referred to as the ‘Mt Gox Whale’ on social media and many cryptocurrency centric forums. On Saturday, March 17, the trustee disclosed to the public exactly how he was offloading the cryptocurrencies he holds, as he still has another $1.9 billion worth of BTC and BCH to sell. This massive amount of holdings waiting to be sold has concerned bitcoin traders, because they think the sales could hurt the BTC and BCH market value.

“I sold BTC and BCH from December 2017 to February 2018,” explains Kobayashi in response to questions about the sale.

I sold BTC and BCH separately — Therefore, the total amounts of BTC and BCC sold until the time I ceased selling are different.

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