The bankrupt Japanese cryptocurrency exchange Mt. Gox made its first large transfer since May, with 47,229 Bitcoin (BTC), worth about $2.71 billion at current rates, sent to a new wallet address.
This comes in preparation for payments to creditors due to begin this month. In total, creditors will receive about $8.5 billion in Bitcoin.
Some market experts have expressed concern that following the sale of Mt. Gox, a large amount of Bitcoin may appear on the market, which has been unavailable for more than ten years.
Other analysts have tried to allay concerns, saying the total amount of Bitcoin that could be released into the market is likely closer to $4.5 billion.
May 28 Mt. Gox transferred almost $7.3 billion in BTC to another unknown wallet address, after which the price of Bitcoin fell by 2%.
On July 4, there was a sharp drop in the price of Bitcoin, after which it dropped even lower. Currently, the price of Bitcoin is $57,328.
Over the week, the price of Bitcoin fell by 6.9%, but since the beginning of the year it has increased by 35.6%.
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