Bitcoin

Arkham

when

Billion

The defunct cryptocurrency exchange Mt. Gox transferred over 27,871 Bitcoin, valued at $2.82 billion, to an unmarked wallet on Thursday. This comes when Bitcoin’s price has <a href="https://www.cryptotimes.io/2024/12/05/bitcoin-surges-past-100000-creates-history/" target="_blank" rel="noopener noreferrer nofollow">soared above the historic $100,000 </a>mark.
The transfer, <a href="https://intel.arkm.com/explorer/entity/mt-gox" target="_blank" rel="noopener noreferrer nofollow">recorded</a> by Arkham Intelligence, also saw 3.82k Bitcoin ($386 million) moved to a cold wallet. This is the latest in a series of transactions following a previous movement of 2,500 BTC on November 12.
Mt. Gox still holds around 39,878 BTC, worth approximately $4.1 billion. While there has been no official explanation for the transfers, the movement coincides with ongoing efforts to resolve compensation claims for former exchange users.
The Mt. Gox trustees had previously extended the payout deadline to October 31, 2025, as they continue to verify claims. Although some creditors have received payouts in fiat, many are still waiting for compensation in Bitcoin or Bitcoin Cash.
Despite the historical market sensitivity to Mt. Gox’s Bitcoin movements, recent transfers have had little effect on the price of Bitcoin. However, concerns remain about how the eventual distribution of Bitcoin could impact the market if creditors decide to sell their holdings.
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 Also Read: <a href="https://www.cryptotimes.io/2024/12/04/bitcoin-exchange-reserves-hits-record-lowest-in-years/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin Exchange Reserves Hits Record Lowest in Years</a>
</blockquote>

Mt. Gox Transfers $2.8 Billion Bitcoin Amid $100K Milestone

The Crypto Times

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