Since 35,000 of the remaining 197,000 Mt Gox Trustee’s coins were dumped on the market between December 17th and February 6th; i.e., THE top, and THE bottom of the market; I have relentlessly followed the story – of what has been shaping up to potentially be the biggest Bitcoin-related issue of the year.

https://steemit.com/andyhoffman/@andyhoffman/crypto-audioblog-22-w-andy-hoffman-will-mt-gox-be-the-biggest-bitcoin-story-of-2018

Yesterday, I went into great detail of the particulars of the Mt Gox lawsuit, below; in which, I learned a very significant, and extremely Bitcoin-bullish detail, that I’ll go into further today. Which is, that most of the remaining 137,000 Bitcoin – assuming the 24,000 withdrawn from the Trustee wallets on April 25th and May 10th have been sold – is NOT going to be used to settle lawsuits…but instead, will shortly become the property of Mt Gox CEO Mark Karpeles; who, it appears, has no intention of liquidating his Bitcoin in the irresponsible manner of the Trustee.

https://steemit.com/andyhoffman/@andyhoffman/5-23-andy-hoffman-cryptogoldcentral-com-the-mt-gox-lawsuit-will-it-or-will-it-not-remain-bitcoin-negative

Without accounting for lawsuit-related costs – like attorney fees, which have not been disclosed; consider that the former Mt Gox Bitcoin holders participating in the suit will only get $483 per Bitcoin. Assuming two-thirds of the holders of the 850,000 Bitcoins lost actually participate (a very generous assumption); at the current price of $7,500, just 54,000 Bitcoins would have to be liquidated.

That is, is you assume NONE of the proceeds from the 64,000 that were already sold were set aside for paying claims; i.e., 5,000 sometime last year; 35,000 from December 2017 through January 2018 – likely, at an average price of $10,000; and presumably, the 24,000 just withdrawn this month – at a price of around $8,500.

In other words, it’s possible that funds to pay ALL claims have already been set aside; and if not, that some, or most, are accounted for; which would mean that little, if any additional liquidation would be required. Not to mention, I haven’t even noted that the Mt Gox Trustee ALSO has 137,000 BCash to sell (atop the 65,000 he likely sold already); which, if sold, would likely render it unnecessary to sell any Bitcoin, even if significant further liquidations are required!

That said, what will happen to the remainder of the 137,000 Bitcoins, that are NOT liquidated to pay off claims? Per yesterday’s article, the Japanese bankruptcy laws say they revert to “shareholders” – which in this case, are Mark Karpeles, who owns 88% of Mt Gox’s stock; and a minority shareholder, that owns 12%.

Those two entities are likely to be involved in their own legal entanglements, involving said minority stake. However, the vast majority will be held by Mark Karpeles; who, despite all his flaws, has made it quite clear he does not want to damage Bitcoin further…much less, if he holds, say 100,000.

For one, he has been leaning on the Mt Gox Trustee to NOT liquidate more Bitcoin unless absolutely necessary. Second, he has said that, assuming he “inherits” the Mt Gox Bitcoin as scheduled; which likely, he’ll be sued for in separate lawsuits; he would aim to return it to stakeholders via a “civil rehabilitation” process, in which Bitcoin is paid directly to shareholders.

https://www.trustnodes.com/2018/04/04/dont-want-billion-dollars-says-mt-gox-former-ceo-mark-karpeles

In other words, for all the FUD about the Mt Gox Trustee, the fact remains that in the worst-case scenario, he holds just $1 billion worth, and $150 million or so of BCash; i.e, chump change, relative to the $300 trillion legacy financial markets. That said, when analyzing the FACTS, it becomes increasingly obvious that in the most likely scenario, future Trustee Bitcoin liquidations will be nominal at worst; and at best, non-existent.