Bitcoin’s clash of the titans

Call it bitcoin’s clash of the titans.

One, a little known banker to the crypto world, is Nobuaki Kobayashi, bankruptcy trustee for Mt. Gox,  the digital currency exchange that was hacked and lost billions of dollars for its BTC clients in 2014.

The other mystery titan only goes by the Bitcoin address of 3Cbq7aT1tY8kMxWLbitaG7yT6bPbKChq64 and according to BitInfoCharts has amassed an astronomical amount of bitcoins worth $344,000,000 at a blended cost basis around $8,400 from 02-09-18 through 02-12-18, according to published reports.

The mystery buyer has a total a new total of 96,000 coins worth somewhere around $790M at today’s price of $8,225, according to BitInfoCharts. The buyer is now the third largest holder of bitcoin in the world.

Kobayashi could very well be on the other side of the trade since the trustee has been charged with selling of the remaining cryptos held by Mt. Gox. The Japanese banker has sold roughly 2,300 bitcoin since last September while prices were soaring toward $1,800.

Kobayashi is said to have another $1.9B in assets he is looking to liquidate, which could be one of the reasons bitcoin has fallen below $9,000K recently.

Perhaps these two could arrange a private placement off the exchanges, so that bitcoin can get back to its true price discovery without the dread of other huge sales having the effect of price suppression.