Cryptocurrency exchange Mt. Gox, which filed for bankruptcy in 2014, recently moved 1,620 Bitcoins (worth around $172.5 million) to new, unknown wallets. This move comes shortly after the reallocation of more than 24,000 BTC in early December, when Bitcoin surpassed $100,000 for the first time.
According to Arkham Intelligence, the funds were transferred to two separate wallets on December 17, but the reason for these movements remains unknown. Previous Bitcoin movements by Mt. Gox have been associated with creditor payments. The exchange currently holds around 36,085 BTC, valued at $3.86 billion.
While the transfer of large amounts of Bitcoin usually puts pressure on prices, the market remained stable, with BTC hovering around $107,000. Creditors are still awaiting payments, which have been delayed until October 2025.
Do you think these moves by Mt. Gox are signs of an imminent recovery for creditors or could they negatively impact the market in the future? Share your thoughts!
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