Mt. Gox and US Government Stockpiles
- WBOYOriginal
- 2024-08-13 18:38:17442browse
Oversupply risks persist, with Mt. Gox and the US government sitting with large BTC holdings. As of August 13, their BTC holdings were as follows:
Mt. Gox and the US government continue to hold substantial BTC reserves, posing a risk of oversupply in the market.
As of August 13, their BTC holdings were as follows:
Mt. Gox: 141,686 BTC
US government: 69,370 BTC
Both entities could potentially sell their BTC holdings, which would increase the supply available in the market and put downward pressure on prices.
However, it's important to note that the US government has stated that it has no plans to sell its BTC holdings. Additionally, Mt. Gox creditors are still waiting for a final decision on how and when they will be compensated for their losses.
Therefore, it remains unclear when or if either entity will sell their BTC holdings.
Despite the risks of oversupply, several factors could continue to support BTC prices in the coming week.
These include strong demand from US buyers, which is likely to be evident in inflows to US BTC-spot ETFs. Additionally, geopolitical events, such as the US presidential election and rising tensions in the Middle East, could also impact supply and demand trends.
Finally, key US economic data, such as inflation, jobless claims, and retail sales figures, will be closely watched for their potential influence on BTC demand through US BTC-spot ETFs.
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