Major Bitcoin Transaction by Bankrupt Mt. Gox Sparks Speculation
Bankrupt Mt. Gox has made a significant Bitcoin transaction for the first time this year, raising questions about its future actions.
Key Highlights:
- 11,834 BTC transferred to a new address
- 166.5 BTC shifted to cold wallet
- Exchange still holds 36,000 BTC valued at over $3.3 billion
The recent transfers by Mt. Gox have sparked a debate within the crypto community. Some believe it indicates a potential sale of Bitcoin to capitalize on the market’s current upward trend, while others speculate it could be related to creditor repayments.
Reimbursement of Creditors:
Mt. Gox initiated the process of reimbursing creditors last year, almost a decade after its closure following hacking incidents that resulted in the loss of approximately 850,000 BTC. By August 2024, the exchange had distributed Bitcoin and Bitcoin Cash to around 21,000 creditors through platforms like Kraken, Bitstamp, and BitGo.
Despite these repayments, the rehabilitation trustee extended the final repayment deadline to Oct. 31, 2025, citing the need for additional time to complete distributions.
