The top Mt. Gox creditor chose to have an early payout in Bitcoin (BTC), deciding against waiting longer for an even larger payment.
Mt. Gox Investment Fund, the largest creditor of the defunct crypto exchange, reportedly decided to take its chances with a lesser but earlier payout rather than waiting for all the legal processes to be resolved. This means that the creditor will be paid by September this year instead of potentially waiting another nine years before getting their funds back.
According to Bloomberg, opting for the earlier payout means that the creditor will be taking only 90% of what's due and the bankruptcy trustee doesn't have to sell tokens to acquire fiat funds for the payment since the creditor also chose to be paid in BTC. This will ease market concerns because token sales of that magnitude could potentially have a negative impact on BTC's market, even affecting the broader crypto market.
Other creditors of the exchange also have until March 10 to decide whether they want to wait for a larger percentage of payment or take the earlier repayment in September.
(By EZRA REGUERRA)
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