The long-deprecated Mt. Gox Exchange has shifted $1 billion worth of Bitcoin, marking its first major deal in over a month.
On March 6th, blockchain analytics company Arkham Intelligence was announced. We flagged the 12,000 Bitcoin (BTC) movement from Gox-Linked Wallet (1PUQB). The cost was only $1.64, and 166.5 BTC (~$15 million) was distributed to the exchange's cold storage (1JBEEZ), with the remaining 11,834 BTC being sent to the unknown wallet (1MO1N).
Mt. according to data from Arkham Intelligence. The Gox wallet holds around 36,080 btc, worth around $3.26 billion.
This is the first activity from these wallets since the minor 4 BTC transfers between cold storage addresses in January. The reason behind the latest transaction remains unknown. In December, Mt. Gox moved 1,620 BTC through an unidentified address just weeks after shifting over 24,000 BTC.
After losing over 800,000 Bitcoin, Mt. Gox, the biggest Bitcoin exchange in 2014, is still seeking repayment after years of bankruptcy process.
The collection deadline was recently extended from October 31, 2024 to October 31, 2025 by the trustee in charge of funding for Mt Gox. Some creditors are still waiting for Bitcoin or Bitcoin cash (BCH) payments, while others have already received Fiat repayments.
The previous Bitcoin movement linked to Mount Gox has sparked a market response, but the current transfer has not had a major impact on BTC prices. However, traders are still wary of the possibility of a sale if the full payment begins.
This development comes as President Donald Trump's trade tariffs, which came into effect on March 4, have caused volatility and disturbing risky assets in the cryptocurrency market. Bitcoin fluctuated significantly this week, peaking at $94,769 on March 3, and fell to $82,681 on March 4 amid concerns over Trump's tariffs.
According to crypto.news price tracker, it once again rose above $90,000, and is currently trading at $91,224, an increase of 4% over the last 24 hours.
