Mt. Gox Transfers $1 Billion in Bitcoin Amid Creditor Payout Preparations

March 25, 2025
Mt. Gox Transfers $1 Billion in Bitcoin Amid Creditor Payout Preparations
  • Following the initial payout in July 2024, many creditors expressed reluctance to sell their Bitcoin payouts, as indicated by a Reddit poll.

  • There is speculation that the latest transfer may be an internal wallet shuffle rather than directly related to creditor distributions.

  • The recent transfer suggests that Mt. Gox may be preparing for creditor payouts ahead of the extended deadline of October 31, 2025.

  • The repayment deadline for creditors has been postponed to October 31, 2025, due to ongoing verification and processing tasks.

  • A Tokyo court has appointed a trustee to oversee the bankruptcy proceedings and manage the compensation process for creditors, which has faced delays due to incomplete procedures.

  • Market analysts are optimistic about Bitcoin's potential price breakout, with some projections suggesting it could reach up to $95,000.

  • On March 25, 2025, the bankrupt exchange Mt. Gox executed a significant transfer of 11,501 Bitcoin, valued at approximately $1.01 billion, marking its third major transaction this month.

  • This transfer included 893 Bitcoins sent to a hot crypto wallet and 10,608 Bitcoins directed to a change wallet, as reported by Arkham Intelligence.

  • Historically, large transfers from Mt. Gox have influenced Bitcoin market prices; however, recent transactions have had minimal impact, with Bitcoin trading around $86,756.

  • On the same day, the Bhutan government transferred $63 million worth of Bitcoin to three wallets, highlighting its significant investment in cryptocurrency.

  • The transfer coincided with Bitcoin's price nearing $89,000 before closing at approximately $87,000.

  • Mt. Gox, once the largest Bitcoin exchange, began its repayment process in July 2024 after its collapse, with trustees extending the repayment period by one year.

Summary based on 10 sources


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