This week in the crypto world, we saw two Bitcoin take center stage in the political arena and MtGox users finally get their payouts.
Well, that didn’t take long.
Bitcoin Is the Talk of the Washington (And Nashville)
Bitcoin and politics are becoming as American as obesity and senseless outrage, and this week was a perfect embodiment of that. We had Mark Cuban saying that Joe Biden’s replacement Kamala Harris might be more open to crypto (before she declined to respond to offers to speak at Bitcoin 2024 in Nashville), Jersey City’s mayor revealing that the city’s pension fund plans to buy Bitcoin ETF shares, Cynthia Lummis potentially revealing a plan to have Bitcoin added as a strategic reserve asset…and all this before Donald Trump speaks at Bitcoin 2024.
There is speculation that Trump will make some sort of Bitcoin-related announcement, but it might end up being that America has the nicest bitcoins in the world, really beautiful, beautiful bitcoins, and that he owned a thousand bitcoins when he was a child, which he loved so, so much until the communists stole them.
MtGox Creditors Get Their Payouts After Ten Years
More than a decade after MtGox collapsed into a pile of digital rubble, MtGox customers finally got their bitcoins back (well, around a quarter of them). After a mammoth process involving meetings, registrations, authorisations, votes, and interminable delays, BTC and BCH finally began trickling into Bitstamp and Kraken, the two biggest payout exchanges.
Users began reporting that their coins had arrived, prompting fears of a mass sale. Sure enough, the price of Bitcoin dropped $5,000, but data revealed that this had nothing to do with the sale of MtGox bitcoins but the fear of the sale of MtGox bitcoins.
When they say that a market is a representation of human emotions, they’re right.
