Mt. Gox will release 140,000 bitcoin. How will it impact the price

The exchange is scheduled to distribute the bitcoins to creditors before October 31, 2024.

Mt. Gox, the bitcoin (BTC) exchange that went bankrupt in 2014, has taken an important step in its rehabilitation process by moving 141,686 bitcoin (BTC) last week.

This action marks the company's first significant move in five years and has generated great expectations about its possible impact on the price of bitcoin.

While former Mt. Gox CEO Mark Karpeles has clarified that this is not a bitcoin sale, uncertainty remains over the creditors' intentions.

The bitcoins in Mt. Gox's possession have remained untraded for 10 years. At the time of the exchange debacle, the price of bitcoin ranged between $500 and $1,000 per unit. Today, the value of bitcoin is 20 times higher than it was back then.