The Mt. Gox-related wallet activities once again captured attention with a massive transfer of 27,871 BTC, worth around $2.8 billion, to an unidentified address on December 4. This transaction coincided with Bitcoin reaching an all-time high above $100,000, marking a historic moment for the cryptocurrency.
Analytics from Arkham Intelligence reveal that the wallet, tied to the long-defunct exchange, still holds 39,878 BTC worth over $4 billion.
This latest movement follows a prior transfer of 2,500 BTC in mid-November, which is amidst the ongoing repayment process for Mt. Gox.
In July this year, the Mt. Gox trustee confirmed that the company had started repaying creditors using Bitcoin and Bitcoin Cash (BCH). The process required creditors to verify their accounts and register with one of several designated crypto exchanges to facilitate the distribution.
Initially, repayments were set to be completed by October 2024, but the deadline was recently extended to October 31, 2025. The extension was attributed to several factors, including incomplete procedures by many creditors and a system error that led to “double deposits” for some, prompting requests for repayment of the excess funds.
Historically, such wallet activities have stirred bearish market sentiments; however, Bitcoin’s recent price trajectory suggests otherwise. The cryptocurrency is currently trading near $103,000 with a 6% daily gain. Its performance in the past weeks has resulted in broader market optimism despite potential liquidity risks, and experts believe that macro outlooks depict a bullish picture for Bitcoin.
In a statement to CryptoPotato, Maple Finance co-founder Joe Flanagan said,
The post Mt. Gox Wallet Moves 27,871 BTC as Bitcoin Hits $100K Milestone appeared first on CryptoPotato.
Analytics from Arkham Intelligence reveal that the wallet, tied to the long-defunct exchange, still holds 39,878 BTC worth over $4 billion.
This latest movement follows a prior transfer of 2,500 BTC in mid-November, which is amidst the ongoing repayment process for Mt. Gox.
In July this year, the Mt. Gox trustee confirmed that the company had started repaying creditors using Bitcoin and Bitcoin Cash (BCH). The process required creditors to verify their accounts and register with one of several designated crypto exchanges to facilitate the distribution.
Initially, repayments were set to be completed by October 2024, but the deadline was recently extended to October 31, 2025. The extension was attributed to several factors, including incomplete procedures by many creditors and a system error that led to “double deposits” for some, prompting requests for repayment of the excess funds.
Historically, such wallet activities have stirred bearish market sentiments; however, Bitcoin’s recent price trajectory suggests otherwise. The cryptocurrency is currently trading near $103,000 with a 6% daily gain. Its performance in the past weeks has resulted in broader market optimism despite potential liquidity risks, and experts believe that macro outlooks depict a bullish picture for Bitcoin.
In a statement to CryptoPotato, Maple Finance co-founder Joe Flanagan said,
The post Mt. Gox Wallet Moves 27,871 BTC as Bitcoin Hits $100K Milestone appeared first on CryptoPotato.
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