Mt. Gox Moves $953M Bitcoin, Causing Investor Concerns

The post Mt. Gox Moves $953M Bitcoin, Causing Investor Concerns appeared on BitcoinEthereumNews.com. Defunct Japanese cryptocurrency exchange Mt. Gox has made its largest Bitcoin move in eight months, even as it pushes back creditor repayments until late 2026. The Mt. Gox-labelled cold wallet transferred 10,608 Bitcoin (BTC) worth over $953 million into a new cryptocurrency wallet, marking its first large-scale transfer in eight months. The transfer was also the first movement above $1 million from the address since March 25, when 893 BTC worth $77.3 million were moved, according to Arkham. Mt. Gox still holds 34,689 Bitcoin worth about $3.14 billion at the time of writing. Mt. Gox-labelled wallet, transfers, balance history. Source: Arkham Intelligence Related: Corporate buying stirs debate over Bitcoin’s long-term decentralization The transfer came as a surprise for the crypto community, as the defunct crypto exchange delayed its repayments by another year, until Oct. 31, 2026, citing incomplete creditor procedures. “As it is desirable to make the Repayments to such rehabilitation creditors to the extent reasonably practicable, the Rehabilitation Trustee, with the permission of the court, has changed the deadline,” wrote Mt. Gox in an Oct. 27 announcement. The delay means around $4 billion in Bitcoin will be kept off the market for another year, reducing the risk of a sudden sell-off by Mt. Gox’s defunct creditors. Mt. Gox’s repayments have a diminishing impact on Bitcoin price, as new institutional entrants, including Bitcoin treasury firms and US spot Bitcoin exchange-traded funds (ETFs), have been absorbing the newly released supply. Bitcoin’s price has risen over 60% since Mt. Gox initiated the first tranche of repayments in July 2024, from about $56,160 to $91,172 at the time of writing. BTC/USD, all-time chart. Source: Cointelegraph Related: Trump Organization to tokenize Maldives resort development for early investors Mt. Gox’s $953 million transfer raises investor concerns Some industry watchers viewed the transfer as a concerning…
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