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BitMEX unloads Bitcoin users and credits Bitcoin

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Bitcoin Mercantile Exchange (BitMEX), based in Hong Kong, announced that it was going to sell all its clients' cash balance bitcoin airdropped and distribute the product in the form of bitcoin .

BitMEX for Dump BDP Airdropped

The exchange – which offers BTC / USD exchanges but is best known for its futures market – made the announcement Wednesday, explaining that because the bitcoin money has been created by a "contentious fork" it will not allow users BCH received at the time of the fork of August 1 to remove the coins to their personal wallets:

"BitMEX does not agree with the litigation ranges, and does not accept the way Bitcoin Cash was forked, or the lack of preparation or of notice before fork, we consider that it is a dangerous action that imposes unacceptable costs on end-users and companies. "

BitMEX has not looked fondly at attempts to move away from the main bitcoin blockchain. The exchange has also taken a stand against the SegWit2x rigid fork, which has since been canceled. Prior to the cancellation of the fork, the exchange had declared that he had no intention of supporting the trading of SegWit2x parts on its platform, he had no intention of distributing coins to his clients.

However, noting that Bitcoin Cash "still has value and popular demand" over three months after the fork, BitMEX has decided to credit users with the value of their dropped BCH by selling coins for Bitcoin. proceeds in users BTC portfolios. OTC Trading Platform (Local OTC) LocalBitcoins took a similar route in September.

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Notably, BitMEX also announced that it has added bitcoin-type futures to its popular derivatives exchange, allowing users to bet on the future value of cryptocurrency that claims to fulfill the true vision of bitcoin

Liquidation events could depress Bitcoin spot price

The BitX sell-Bit could have a significant impact on the bitcoin spot price. BitMEX is the highest volume cryptocurrency exchange, with daily volumes regularly reaching the $ 1 billion mark. As a result, the dump could exert a strong downward pressure on the bitcoin species rally, which brought the coin above $ 1,200

Several other liquidation events are also on the horizon. Grayscale Investments recently announced its intention to sell the bitcoin money held by its Bitcoin Investment Trust (OTC: GBTC) – a fund that currently holds more than $ 1 billion in assets – and distribute a dividend to its shareholders. Several other services – notably Bitcoin Exchange Coinbase – have not yet made BCH parts available to users so that they can opt out.

Nevertheless, advocates of bitcoin species may find a good side in the announcement because, although the sale will likely downgrate the price of the coin in the short run, it is a tacit validation that bitcoin has proved its viability.

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