Last week, it was reported that the Japanese lawyer and the head of the Board of Trustees of the bankrupt exchange MtGox, Nobuaki Kobayashi from September of last year, with the permission of the Tokyo court, sold BTC entrusted to him
and BCH. In total he sold cryptocurrency assets of more than $ 400 million.
Many analysts cryptocurrency market tied recent collapses of bitcoin with these sales and I have to say, not without reason. Comparing dates the major selling BTC bitcoin with the schedule, it became apparent that each of Kobayashi’s selling was accompanied by a fall in the price of bitcoin.
It is known that Kobayashi was still 165 000 BTC that are currently worth more than 1.5 billion dollars.
However, as it became known, the next hearing in the case of bankruptcy of the stock exchange is scheduled for 18 September 2018 and there is every reason to believe that to this day, Kobayashi will not be able to withdraw the remaining bitcoins on the market. All of this very closely traders of the cryptocurrency market, as if this information is confirmed, it will have a positive impact on the price of bitcoin and the market as a whole, which is in limbo due to the constant pressure from regulators, fraud and hacker attacks on cryptocurrency exchanges. However, there are those who disagree with this statement.
Hi, I’m Japanese. Nobuaki has already authorization to sell BTC. Sep 18 is only schedules meeting of Creditors. It’s has not any authorization of selling BTC. Nobuaki says he will sell BTC with court permission.
— 岩井洋一（柔術新聞 速報版） (@busujiujitsu) 11 March 2018.
This tweet implies that the user denies the information about the suspension of sales and claims that Kobayashi already has the necessary resolution, and on September 18 will be a regular meeting of creditors.
Further, the same user noted that many lenders require payment in Japanese yen, so don’t think that bitcoin sales will stop.
No matter what action is taken by Kobayashi, traders are hoping that further sales will be more transparent and will cause no crisis on the market of cryptocurrencies.