Nobuaki Kobayashi: incorrect to think I influenced Bitcoin price

Nobuaki Kobayashi, Mt Gox trustee, has categorically stated that his sale of Bitcoin and its cousin cryptocurrency Bitcoin Cash did not make any influence on the market after this concept became popular in the press, journalists report. Mr. Kobayashi has implied that the actual sale had happened long before the corresponding transactions has been conducted. In conclusion, the attorney from Tokyo advised not to connect the sale and the market behavior.

This explanation, however, would be not enough for many digital currency market observers who naturally see the sell of a huge asset sum as a reason of the asset price decrease. Even if Kobayashi tells the truth, the majority of the market has already reacted to this news anyway.

Nobuaki Kobayashi sold 35,841 BTC and 34,008 BCH and he still possesses a vast sum of $1.9 bln of digital currency which makes him a “Bitcoin whale”, as some media outlets call big Bitcoin holders the actions of which may influence the whole sphere. The transfer he talks about happened on 5 February 2018. The origin of the whole fortune is Mt Gox, a large Japanese digital currency exchange which in its better days looked trustworthy enough even for Vitalik Buterin’s father, and later in 2014 it went bankrupt with withdrawals halted, some funds missing and Bitcoin falling -36% in price.