Published On: Sun, Mar 18th, 2018

Mt. Gox Trustee Who Sold $400 Million Bitcoin Denies Affecting Market Price

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The Mt. Gox trustee who sold over $400 million in Bitcoin (BTC) and Bitcoin Cash (BCH) from December to February had denied affecting the market prices of both cryptocurrencies.
A Whale’s Tale
According to a transcript of a Q&A session from the 10th Mt. Gox creditors’ meeting, the defunct exchange’s trustee Nobuaki Kobayashi had denied affecting the market price of Bitcoin (BTC) and Bitcoin Cash (BCH) with his high-profile and high-volume sales.

“Bitcoin Holder SLAYER”†Nobuaki Kobayashi† pic.twitter.com/uQie1kScS5
— Sy-YsK (@sy_ysk) March 11, 2018

In fact, Kobayashi says very little in regards to the details of his sales. However, he does indicate that he sold both cryptocurrencies through means outside of exchanges. Says the trustee:
I sold BTC and BCC from December 2017 to February 2018 with the cooperation of a cryptocurrency exchange in light of the market price at the time of the sale. Following consultation with cryptocurrency experts, I sold BTC and BCC, not by an ordinary sale through the BTC/BCC exchange, but in a manner that would avoid affecting the market price, while ensuring the security of the transaction to the extent  …

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