Reddit Survey Finds Mt. Gox Creditors Are Hodl Their Bitcoins Instead of Selling Them

The Impact of Mt. Gox Creditors Choosing to Hodl Bitcoin

A recent vote on the Mt. Gox Insolvency subreddit indicates that the majority of Mt. Gox creditors intend to keep their Bitcoin payouts, which they will either get in full or in part almost 11 years after the Mt. Gox attack. Roughly 260 Mt. Gox creditors—or 56% of the 467 poll respondents—plan to hang onto their Bitcoin after getting paid off, according to the Mt. Gox Insolvency poll, which concluded on July 13.

This choice is consistent with the so-called “hodl” Bitcoiner strategy, which advises investors to hang onto their Bitcoin holdings despite the currency’s numerous price swings and volatility. 88 respondents, or about 20% of the total poll participants, on the other side, said they would sell all of their Bitcoin payouts.

Mt. Gox Insolvency Survey: How Reliable Is It for Measuring Investor Sentiment?

The poll may reflect the general sentiment of investors on the Mt. Gox Insolvency subreddit. Nevertheless, several factors, such as disparities in settlement amounts and a small percentage of creditors casting ballots, prevent it from depicting the whole situation.

This is all good fun, but doesn’t mean anything. Someone with 1 BTC selling 25-50% is way different from someone with 10,000 BTC selling 25%. You cannot take the results of this survey and calculate the percentage of Bitcoin that will be sold and be anywhere near accurate unless you get lucky. People have a motivation to lie about their choice.

one Redditor

Yet some think that surveys on the Mt. Gox Insolvency subreddit are useful because they can gauge the sentiment of investors in this area.

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