Selling this many Bitcoins at once, which are currently valued at over £100 million, could prove disastrous for the value of the cryptocurrency. Supply of the currency would be flooded, and in the absence of a comparable rise in demand the price is likely to fall.
Mt Gox was formerly one of the world’s biggest cryptocurrency exchanges before the loss of 1 million of its customer’s Bitcoins forced it to close in 2014.
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