U.Today – Cryptocurrency journalist and blogger Colin Wu has published a post about a survey that was conducted among Reddit users (Mt. Gox targeters) recently.
In the survey, users who received compensation from Mt. Gox in Bitcoin revealed what they will do with the newly received BTC. The survey shows that the majority of voters do not plan to sell them.
Mt. Gox Bitcoin Poll on Reddit
According to Wu's tweet, 467 users have so far participated in the vote, titled “What percentage of your Bitcoins will you sell immediately after receiving them?”
Two hundred and sixty redditors chose the “zero” option, which represented 55% of voters. Eighty-eight redditors voted to sell all of the BTC they will receive or have received from Mt Gox through centralized and currently operating cryptocurrency exchanges, or 18% of voters. Sixty-eight people said they would sell between 1% and 25% of their Bitcoin. Twenty-six redditors chose the option to sell between 25% and 50%.
Earlier this week, Mt. Gox transferred nearly $6 billion worth of bitcoins to cryptocurrency exchanges, which will then distribute the funds to Mt. Gox creditors and traders. Those individuals suffered a massive loss of funds as a result of a cyber attack in 2014. The exchange ceased to operate after that.
One such exchange, US-based Kraken, announced that it had received some of that Bitcoin and intends to send it to Mt. Gox customers within a week or two.
However, the survey results echo the view recently shared by Bitcoin advocate and Jan3 CEO Samson Mow. He tweeted that he believes only about 20% of that cryptocurrency will eventually make it to market. The rest, he believes, will remain locked away in cold storage vaults.
Whales are buying bitcoins like crazy, says analyst
Ki Young Ju, founder and CEO of CryptoQuant, shared data showing that this year, whales have purchased 1.8 million Bitcoin. They include wallets holding over 1,000 BTC, custodial wallets, and spot Bitcoin ETFs. This means that every week, all of these entities have been purchasing 100,000 Bitcoins.
In 2021, the total inflow of Bitcoin into those wallets amounted to 70,000 BTC.
This article was originally published on U.Today
