FRNT Financial CEO: Traders May Have Overreacted to Mt. Gox Repayment Event

Stephane Ouellette, CEO of FRNT Financial Inc., said traders may have overreacted to the Mt. Gox repayment incident. He said the German government may liquidate $2.30 billion worth of bitcoin, which poses a bigger immediate threat to the market. Not all of the bitcoin they distribute will be sold, the market is struggling to find a story, and bitcoin bulls are now salivating, hoping this will be a great buying opportunity.