Mt. Gox Transfers $2.8 Billion in Bitcoin as Prices Climb
Finance/Markets

Mt. Gox Transfers $2.8 Billion in Bitcoin as Prices Climb

The defunct exchange Mt. Gox has transferred a significant amount of Bitcoin to an unknown address, sparking anxiety within the cryptocurrency community.

Mt. Gox Transfers $2.8 Billion in Bitcoin as Prices Climb

The defunct exchange Mt. Gox has transferred a significant amount of Bitcoin to an unknown address, sparking anxiety within the cryptocurrency community.

What You Should Know

  • Mt. Gox moved $2.8 billion in Bitcoin to an unidentified address amidst rising prices.
  • The exchange reportedly still holds 39,878 BTC.

An address associated with Mt. Gox transferred a substantial amount of Bitcoin to an unspecified location as Bitcoin's price reached six figures. According to Arkham Intelligence, 27,871 BTC, equivalent to $2.8 billion, was moved from the wallet known as Mt. Gox (1FHOD). The exchange retains 39,878 BTC valued at over $4 billion.

This recent outflow follows a prior transfer of 2,500 BTC and has drawn significant attention on cryptocurrency social media. Analysts suggest these transactions could be related to repayments to creditors, which have historically influenced market prices. Recently, the Mt. Gox trustee extended the repayment deadline to October 31, 2025.

As of now, Bitcoin maintains a stable value above $103,000.

Next article

Bitcoin Reaches Landmark $100K Milestone, Approaches $2 Trillion in Market Cap

Newsletter

Get the most talked about stories directly in your inbox

Every week we share the most relevant news in tech, culture, and entertainment. Join our community.

Your privacy is important to us. We promise not to send you spam!