Mt. Gox's recent transfer of over $1 billion in Bitcoin has triggered speculation about possible creditor repayments.
Largest Transfer by Mt. Gox Since Bankruptcy
According to Arkham Intelligence, Mt. Gox moved 11,834 BTC, valued at over $1 billion, from the wallet '1PuQB' to an unknown address '1Mo1...9gR9'. An additional transfer of 166.5 BTC worth $15.12 million followed to another wallet. This marks the most significant transfer since January 2024, fueling rumors of imminent creditor repayments.
A Decade Later: Mt. Gox Prepares for Repayments
Founded in 2010, Mt. Gox once handled 70% of all Bitcoin transactions. A hack in 2014 led to the loss of over 800,000 BTC and bankruptcy. Initial repayment plans set for 2024 have been extended to October 31, 2025. The recent large transfers suggest preparations for repayments might be underway, though no official confirmation has been made.
Market Impact and Future Developments
Analysts indicate that large transfers could suggest creditor repayment efforts or internal asset restructuring. Bitcoin's price rose past $91,903 following the transactions, influenced by macroeconomic factors like Trump's tariff policies.
The market remains focused on Mt. Gox's next steps, which could influence cryptocurrency pricing dynamics and creditor repayment processes.
