Analyst: The selling pressure brought by Mt. Gox's debt repayment may not be as severe as expected

Swan Bitcoin's senior analyst, Sam Callahan, suggests that the impact of Mt. Gox distributing Bitcoins on Bitcoin prices may have been exaggerated. The selling pressure brought about by Mt. Gox repaying its debts might not be as severe as expected since creditors who want to sell their Bitcoins have had over 10 years to do so and could sell their bankruptcy claims to more determined long-term investors. Moreover, most creditors are likely to hold onto their Bitcoins because their cost basis is less than $700 per Bitcoin. GalaxyResearch stated in a report on Monday that out of the designated allocation of 141,000 BTC in total, 65,000 BTC will be delivered to individual creditors while another 30,000 BTC will go towards claim funds and separate bankruptcies. It can reasonably be assumed that most of the BTC received by funds obtaining claims from creditors will be distributed physically to LPs rather than being sold off which alleviates people's concerns.