{"id":33253,"date":"2024-12-05T20:30:03","date_gmt":"2024-12-05T17:30:03","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=33253"},"modified":"2024-12-05T18:51:26","modified_gmt":"2024-12-05T15:51:26","slug":"mt-gox-transferred-2-4-billion-worth-of-btc-after-bitcoin-surpassed-100000","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/mt-gox-transferred-2-4-billion-worth-of-btc-after-bitcoin-surpassed-100000\/","title":{"rendered":"Mt. Gox Transferred $2.4 Billion Worth of BTC After Bitcoin Surpassed $100,000"},"content":{"rendered":"

The long-collapsed crypto exchange Mt. Gox<\/strong> transferred over 24,000 BTC<\/strong> to an unknown address after Bitcoin surpassed $100,000.<\/strong><\/p>\n

According to Arkham Intelligence<\/strong> data, on December 5 at 2:45 am UTC, the exchange transferred 24,051 Bitcoin<\/strong> to an unknown address starting with \u201c1N7j,\u201d which had no prior transaction history.<\/p>\n

This was the first transfer since November 12. Mt. Gox\u2019s move came just 12 minutes after Bitcoin crossed $100,000 and less than half an hour before Bitcoin reached a high of $104,000 on Coinbase at 3:08 am UTC, according to TradingView.<\/p>\n

It is unknown why Mt. Gox<\/strong> transferred part of its holdings since it went bankrupt in early 2014, but similar moves in the past have been a precursor to payouts to its creditors.<\/p>\n

\"mtgox\"
\nEarly on Dec. 5, a Mt. Gox-tagged wallet moved 24,051 BTC to an untagged address and over 3,800 BTC to a cold wallet. Source: Arkham Intelligence<\/em><\/strong><\/p>\n

\n

What Will The Creditors Do?<\/h2>\n

Such moves are usually seen as bearish for Bitcoin<\/strong>, as it could mean that people who have been unable to access their Bitcoin<\/strong> for over a decade are likely to sell, potentially leading to a wave of billions of dollars in sales.<\/p>\n

However, some analysts believe that the sell-side pressure from Mt. Gox<\/strong> payments is overblown, as these payments have been planned for years and the market has already priced them in.<\/p>\n

Mt. Gox<\/strong> creditors can receive their payouts in Bitcoin<\/strong>, and many creditors who participated in a July poll on Reddit after the exchange’s first payout stated that they weren’t in a hurry to sell their Bitcoin.<\/p>\n

In October, the Mt. Gox<\/strong> trustee managing the large Bitcoin sum extended the deadline for repayment to creditors to October 31, 2025, adding a full year.<\/p>\n

The trustee noted that many creditors \u201cstill have not received their repayments because they have not completed the necessary procedures for receiving repayments.\u201d<\/p>\n

According to Arkham Intelligence<\/strong> data, after the exchange’s latest move, it holds approximately $4.1 billion worth of 39,878 BTC.<\/p>\n

\n

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0Telegram,\u00a0<\/strong><\/a>YouTube<\/strong><\/a>,\u00a0and\u00a0Twitter<\/strong><\/a>\u00a0channels for the latest\u00a0news<\/a>\u00a0and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The long-collapsed crypto exchange Mt. Gox transferred over 24,000 BTC to an unknown address after Bitcoin surpassed $100,000. According to Arkham Intelligence data, on December 5 at 2:45 am UTC, the exchange transferred 24,051 Bitcoin to an unknown address starting with \u201c1N7j,\u201d which had no prior transaction history. This was the first transfer since November<\/p>\n","protected":false},"author":29,"featured_media":33258,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,10,657,11,2],"tags":[9874,7182,61,566],"class_list":["post-33253","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-economy-news","category-en","category-exchange-news","category-news","tag-100-000","tag-arkham-intelligence","tag-bitcoin","tag-mt-gox"],"yoast_head":"\nMt. 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