I admit I did not keep up with the story full time, since it did not affect me, but during my daily 4 hours rbitcoin addiction I did not see it mentioned anywhere, excuse me if it is well-know / well-discussed.
My understanding is Bfx has no Bitcoins and in order to compensate 100%-36%=60% of Bitcoin holders they have to sell fiat and other cryptos.
Let’s say they aren’t already on fractional reserve and maybe have not started to buy back the Bitcoins that’s roughly 100,000hackedBtc * 0.6 = 60,000Btc that have to hit the market in the form of buy pressure during the coming days/weeks/months.
Other than the possibility of they have already bought them back and my terrible math is there any problem with my logic?
submitted by /u/nopara73
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