Mt. Gox moves $234 million in Bitcoin amid BTC price regains $100,000

Mt. Gox, a defunct cryptocurrency exchange, transferred approximately 24,052 Bitcoin (BTC), valued at roughly $2.43 billion, to a new wallet after Bitcoin's price surpassed $100,000 for the first time . This significant transaction followed Bitcoin's price surge, potentially driven by factors such as Fed rate cut expectations and positive sentiment from investors . While the purpose of this transfer remains unclear, it's speculated that it might be related to future distributions to creditors . The move comes after Mt. Gox extended its repayment deadline to October 31, 2025, leaving creditors in a state of uncertainty regarding their funds . The transfer involved moving BTC to a new address, "1N7jW…1u8Yp," and a portion to an internal cold wallet . Even though Mt. Gox's total Bitcoin holdings decreased, the overall value increased due to the rise in Bitcoin's price .