Mt. Gox, the now-defunct cryptocurrency exchange, has once again moved a significant portion of its Bitcoin holdings, sending $172.5 million worth of BTC to unknown wallets. The transfer, recorded on December 17, came less than a day after Bitcoin reached a new milestone of nearly $108,000.
According to Arkham Intelligence, Mt. Gox transferred 1,619.6 BTC to two separate, untagged addresses. The movement was split into two parts — a larger transfer of 1,427.9 BTC and a smaller one of 191.7 BTC. Notably, a portion of the first transfer eventually ended up in a wallet beginning with “1DeY” after passing through another intermediary address. Meanwhile, the remaining 108 BTC and the 191.7 BTC cycled through multiple wallets before consolidating in a wallet starting with “1KLr,” which currently holds 300 BTC.
Market Speculation Rises as Bitcoin Holds Firm
The reason behind Mt. Gox’s recent Bitcoin movements remains unclear, as has often been the case with past transfers. The bankrupt exchange, which collapsed in 2014 following a massive hack, still holds around 36,085 BTC valued at around $3.86 billion across its controlled wallets, Arkham data reveals.
These transfers come amid renewed market interest in Bitcoin. On December 5, Mt. Gox previously shuffled over 24,000 BTC worth $2.5 billion shortly after Bitcoin hit the $100,000 mark for the first time. Historically, such movements have triggered speculation about impending creditor payouts or sell-offs, often viewed as bearish indicators.
However, despite the massive transfer on December 17, Bitcoin’s price remained steady, trading at $106,500 after briefly hitting a new high of $107,857. This stability signals strong market confidence as BTC continues to trade above the critical $100,000 mark since December 13.
Creditor Repayments Delayed Yet Again
Mt. Gox creditors, many of whom have awaited reimbursement for nearly a decade, are still in limbo. While creditors have the option to receive their payouts in Bitcoin, the process has faced repeated delays. In October, the trustee overseeing Mt. Gox’s remaining assets extended the repayment deadline to October 31, 2025, citing incomplete procedures on the part of several creditors.
As the market watches closely, the latest Bitcoin transfer has reignited questions about Mt. Gox’s next move and its potential impact on BTC’s price trajectory. With Bitcoin holding firm despite the massive movement, investors appear to be maintaining a bullish outlook, for now.
The post Mt. Gox Moves $172.5M in Bitcoin Following BTC’s Record High appeared first on TheCoinrise.com.
