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International Business Times
International Business Times
Business
Marvie Basilan

Bitcoin Slips Amid MtGox Repayments – Market Response More 'Grievous' Than German Dump-Triggered Reaction?

MtGox Bitcoin United States Kraken Larry Fink Crypto BlackRock
Bitcoin retreated as news of MtGox's repayments to creditors spread on social media. (Credit: Marco Verch/flickr)

KEY POINTS

  • MtGox wallets moved some $5.8 billion in Bitcoin to new addresses Tuesday
  • Kraken confirmed that it received MtGox repayments and will work to distribute the funds
  • The market response to may be more 'grievous' than how it reacted to Germany's dump: Chimp Exchange founder

Bitcoin has been in the green since the beginning of the week but slumped in the red early Thursday as MtGox's creditor repayments reignited fears on whether creditors will sell their $BTC and how the selloff will affect prices.

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