Mt. Gox officially announced today that it would gradually start shipping to exchanges, while the price of Bitcoin hit below $54,000 after weeks. However, the selling pressure may not be as great as feared. According to the official file shared by the exchange’s board of trustees, coins will be distributed to creditors in varying time frames from exchange to exchange.

It ranges from 14 to 90 days

For example, the Kraken exchange was given a maximum of 90 days for payments. This means that creditors from Mt. Gox to Kraken can still receive their coins after 90 days. That’s 60 days for the Bitstamp exchange, 20 days for BitGo, and 14 days for SBI VC Trade and Bitbank.

Mt. Gox’s board of trustees file on the subject; “BTC and BCHs that need to be deposited into the account of the rehabilitation process creditor must be added to the balance within a certain period of time. Payments will be made immediately to users who meet certain criteria.”

Bitbank has already made some payments: “Same number of BTC/BCH received”

On the other hand, Mt. It is stated that Bitbank, one of the exchanges contracted with Mt. Gox, made some payments without waiting for the 14-day period. The Block cited creditors for this information and reported that some creditors received their BTC and BCH. Some users shared screenshots on the social platform Reddit and stated that the number of Bitcoins and Bitcoin Cash they lost 10 years ago came to their accounts.

The criteria include having a registered account, having an agreement on certain terms with the aforementioned exchanges, and having completed negotiations with the bankruptcy administration.

At the time of writing, Bitcoin is trading at $54,200.