Mt. Gox Moves $172 Million in Bitcoin as Market Reaches All-Time High
As the cryptocurrency industry gains steam, the now-defunct Mt. Gox transferred $172.54 million in Bitcoin to an undisclosed wallet.
According to information gathered by Arkham Intelligence, the account moved 1,619.6 Bitcoin earlier in the day. The transfer took place at the same time as Bitcoin hit a new high, breaking beyond the $10,000 barrier.
Arkham Intelligence is the source.
Arkham Intelligence research shows that the Mt. Gox still has around 37,705 Bitcoin, which is worth almost $4 billion.
Despite the normal reaction from the Bitcoin market to wallet activity tied to Mt. Gox, this most recent development seems to have had little immediate effect. When this article was published on Tuesday, Bitcoin was trading at $106,800.
The market valuation of Bitcoin reached a remarkable $2 trillion when it first climbed past $100,000 earlier on December 4.
Bitcoin Transactions Between Mt. Gox Wallets Persist
Mt. Gox has postponed the payback deadline to October 31, 2025, which is happening at the same time as the transfers.
It has been ten years since the exchange failed, and now the repayments are being paid. After Mt. Gox fell, there were years of lawsuits and attempts to get back the money that had gone missing.
A court-appointed trustee oversaw the extensive restoration procedure that began in 2018 with the recovery of almost 200,000 Bitcoins. Since then, creditors have been waiting for payment, which has been a difficult process due to many delays.
Bitcoin Value Development
At the end of a banner year for Bitcoin, the cryptocurrency's price surpassed $100,000, making it the sixth most valuable asset by market valuation, surpassing even silver and Saudi Aramco.
Bitfinex experts have predicted that Bitcoin's price gain for this cycle has been mostly accounted for by the recent surge to above $100,000. Midway through 2025, Bitcoin price experts at Bitfinex predict a minimum of $140,000 to $200,000.
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