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22-12-20242 min read
News - Mt.Gox again moves Bitcoin worth $172 million
As Bitcoin hits another record high, there is lively activity in Mt.Gox trustee wallets. Are the coins starting to run out?
The assets of the bankrupt crypto-exchange Mt.Gox still contain billions in Bitcoin. Some of these coins have now been moved again, as data from Arkham Intel shows. For example, the address marked as Mt.Gox moved about 1,600 BTC worth $172 million to two unknown wallets yesterday, on Dec. 16.
Mt. Gox, a long-bankrupt crypto exchange, transferred about $172.5 million worth of #Bitcoin to an unknown wallet less than 24 hours after the cryptocurrency hit a new high of almost $108,000.
— SDCTradecoin (@Callatran80) December 17, 2024
Arkham Intelligence shows the exchange moved 1,619.6 #BTC to two addresses on Dec. 17 pic.twitter.com/Tqg5cp7gsi
As with the transactions a few weeks ago, this could involve payouts to creditors. However, further information from the trustee is not available. In October, it had postponed the deadline for repayments to creditors by a full year to Oct. 31, 2025. This initially dispelled fears of a massive wave of sales. But according to Arkham, Mt.Gox still holds about 38,000 BTC worth four billion dollars. So theoretically, some selling pressure on Bitcoin remains, but it is currently being absorbed by increased demand.
