Key takeout
- Mt. Gox transferred 12,000 Bitcoins worth more than $1 billion after months of silence.
- The exchange also moved 166,505 Bitcoins to the internal wallet.
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According to data from Arkham Intelligence, Crypto Exchange has just sent over $1 billion of 12,000 Bitcoins to an unidentified address in the past hour by a wallet related to Crypto Exchange Mt. Gox. The transfer came amid the rise in Bitcoin to $90,000.
Gox-Labled Mount's wallet has also moved 166,505 Bitcoins worth about $15 million into the cold wallet. These were the first transfers after several months of dormancy.
The exchange maintains ownership of over 36,000 Bitcoin, worth around $3.3 billion at its current market price. The previous transaction occurred on December 17th, when the associated address moved $172 million in Bitcoin to a new destination, Arkham data shows.
Mt Gox has extended the repayment deadline from October 31, 2024 to October 31, 2025, citing the claimant's ongoing verification and processing requirements. Some creditors are receiving fiat currency payments, while others are still waiting for compensation in Bitcoin or Bitcoin cash.
While the Bitcoin movement on Mt Gox has historically influenced market sentiment, recent transfers have had minimal impact on Bitcoin prices. However, if creditors choose to sell their holdings following a full coverage distribution, market participants are concerned about the potential price effect.
Bitcoin has grown by 4%, at around $90,100 over the past 24 hours, according to TradingView data.
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