**Crypto Exchange Mt. Gox Moves 12,000 Bitcoin**
Defunct crypto exchange Mt. Gox has made a significant move, transferring around 12,000 Bitcoin (BTC), worth $709.4 million, to a new, unknown wallet. This marks the first major transaction since late July. Additionally, 1,265 BTC, valued at $74.8 million, was sent to a cold wallet.
- **Potential Payouts:** The move could signal preparations to distribute Bitcoin to creditors, who have awaited compensation since Mt. Gox's collapse in 2014.
- **Expert Opinion:** Alex Thorn from Galaxy suggests only a small portion is for distribution, with the majority going into new cold storage.
- **Historical Context:** This follows a July 30 transaction where 47,229 BTC were moved, with a significant portion suspected to be held by BitGo, a Mt. Gox Trustee custodian.
- **Current Holdings:** Mt. Gox still retains 46,164 BTC, worth approximately $2.7 billion.
- **Creditor Behavior:** Many creditors are holding onto their Bitcoin, anticipating future price increases and aiming to avoid immediate capital gains taxes.
Stay tuned for further updates on this evolving situation.