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Despite the opportunity to cash out, a number of Mt. Gox creditors are opting to keep their Bitcoin payouts, according to a recent Reddit community poll.
A recent poll within the Mt. Gox insolvency subreddit, a community of around 11,000 individuals impacted by the exchange's collapse, revealed that a majority (55.67%) of the 467 respondents plan to hold onto their Bitcoin repayments rather than sell them immediately.
On the other hand, 88 pollees, about 18.84%, chose to sell all the Bitcoin compensation. Some 14.56% of respondents reported selling 1-25% of their BTC payouts, while nearly 6% said they would cash out 25-25%.
While the poll does offer a glimpse into the diverse strategies investors are considering for their recovered Bitcoin, it doesn’t paint the whole picture of the overall Mt. Gox creditor sentiment.
“This is all good fun, but doesn’t mean anything,” one user commented. “Some with 1 Bitcoin selling 25-50% is a way different to someone with 10,000 Bitcoin selling 25%. They added:
“You cannot take the results of this survey and calculate some % of Bitcoin that will be sold and be anywhere near accurate unless you get lucky.”
After more than a decade, on July 5, Mt. Gox began repaying the estimated 127,000 creditors who lost access to over $9.4 billion worth of Bitcoin following the exchange’s collapse in 2014.
On-chain data analytics firm CryptoQuant said 36% of the Bitcoin owed to creditors has been distributed, as of July 17.
News of Mt. Gox repayments, however, has sparked concerns among crypto investors, who fear the influx of Bitcoin back into the market could trigger a sell-off and put downward pressure on prices.
At the time of writing, Bitcoin exchanges hands at $63,462.64, down almost 3% in the last month, per CoinGecko data.