Amidst Bitcoin's price surge, Mt.Gox executed a significant transfer for the first time since January 2024. This event has piqued interest in the company's future actions and their impact on the cryptocurrency market.
Major Bitcoin Transfer by Mt.Gox
According to Arkham data, Mt.Gox, which had been inactive for a long time, transferred 11,834 bitcoins worth over 1 billion dollars to an unidentified wallet. This transaction marked the first significant activity since January and has drawn interest from the crypto community.
Cold Wallet and Current Holdings
Today, Mt.Gox also transferred 166.5 BTC valued at $15.12 million to its cold wallet. The total Bitcoin holdings linked to Mt.Gox accounts amount to 36,080 BTC, worth approximately $3.26 billion. Mt.Gox, which declared bankruptcy in 2014, began creditor payments in 2024. Last October, the payment deadline was extended to October 2025.
Bitcoin Prospects and Predictions
While Mt.Gox made its largest bitcoin transaction in a month, the BTC price increased by 6.1% in the last 24 hours to $92,300, bolstered by expectations for tomorrow's White House Crypto Summit. Analyst Ali Martinez predicts that if Bitcoin regains $97,000 according to the Pi Cycle Top indicator, there could be a further rise towards $150,000.
As the Bitcoin market continues to monitor Mt.Gox's actions, the current cryptocurrency market remains unstable. Analysts urge caution and vigilant observation of the situation's development.
