As the cryptocurrency market continues its impressive momentum, the long-defunct Mt. Gox exchange has made waves by transferring $172.54 million worth of Bitcoin (BTC) to an undisclosed wallet. Data from Arkham Intelligence revealed that 1,619.6 BTC were moved earlier in the day, coinciding with Bitcoinโs historic climb past the $10,000 mark.
Despite the historical market sensitivity to activity linked to Mt. Gox wallets, this latest transfer appeared to have minimal immediate impact on Bitcoin's price. At the time of reporting, BTC was trading steadily around $106,800, holding its position near recent highs. Arkham Intelligence data further shows that Mt. Gox still controls approximately 37,705 BTC, valued at nearly $4 billion.
๐๐ง๐ ๐จ๐ข๐ง๐ ๐๐ซ๐๐ง๐ฌ๐๐๐ซ๐ฌ ๐๐ง๐ ๐๐๐ฅ๐๐ฒ๐๐ ๐๐๐ฉ๐๐ฒ๐ฆ๐๐ง๐ญ๐ฌ
Mt. Gox-related Bitcoin transactions have persisted as creditors await long-overdue repayments. Notably, the repayment deadline has now been extended to October 31, 2025. This marks over a decade since the infamous exchangeโs collapse, which triggered prolonged legal battles and a painstaking recovery process.
The restoration efforts began in 2018 under the supervision of a court-appointed trustee, who managed to recover nearly 200,000 BTC. Since then, creditors have faced multiple delays in receiving their claims, though significant progress continues to be made.
๐๐ข๐ญ๐๐จ๐ข๐งโ๐ฌ ๐๐๐๐จ๐ซ๐-๐๐ซ๐๐๐ค๐ข๐ง๐ ๐๐๐ซ๐๐จ๐ซ๐ฆ๐๐ง๐๐
Amid the Mt. Gox activity, Bitcoinโs price has experienced a banner year, recently surpassing $100,000 and achieving a $2 trillion market cap milestone. This makes Bitcoin the sixth most valuable asset globally, outpacing major players like silver and Saudi Aramco.
Looking ahead, analysts at Bitfinex anticipate further upward momentum. They predict Bitcoinโs current surge is just the beginning of a broader rally, projecting BTC to reach between $140,000 and $200,000 by mid-2025.
As Bitcoin continues to chart new highs and historical events like Mt. Gox unfold, the market remains firmly in the spotlight, signaling a potentially transformative period for the crypto industry.
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