Mt. Gox, the once-dominant bitcoin exchange that fell apart in 2014, has conducted another notable bitcoin transaction despite continuous market volatility.
Blockchain analytics company Valhalla Intelligence found the movement from a wallet linked to Mt. Gox (1PuQB) on March 6. The deal split the funds, sending 11,834 BTC to an unidentified address (1Mo1n) while roughly 166.5 BTC—about $15 million—was sent to Mt. Gox’s cold storage wallet (1Jbez). The transaction charge came out at just $1.64.
From Mount Gox wallets, this transferred amount represents the first significant Bitcoin movement in well over a month. Previously, in December, a similar transaction saw 1,620 BTC moved through unidentified wallets, following a far higher transfer of nearly 24,000 BTC just weeks earlier. This most recent relocation’s intended use is yet unknown.
Currently valued at around $3.26 billion, Mt. Gox-linked wallets still have about 36,080 BTC. These monies are under intense observation since earlier transfers have sparked rumors regarding possible returns to creditors awaiting more than ten years.
Years of drawn-out bankruptcy proceedings for Mt. Gox have resulted in creditor obligations set for completion by October 31, 2025, following a deadline extension last year. Although prior moves in Mt. Gox’s Bitcoin holdings have sometimes set off market reactions, this most recent transfer has not appreciably affected the price of Bitcoin. Investors are wary about possible sell-offs should significant repayments start, though.
This evolution corresponds with more general market volatility, partly influenced by current geopolitical and economic developments. Price oscillations in Bitcoin have been extreme; it peaked on March 3 at $94,775, then dropped to $82,681 on March 4. Reflecting a 4% increase in the past 24 hours, BTC has rebounded to trade beyond $90,000 as per the most recent reports.
Despite the unknown motives behind the latest Mt. Gox transaction, traders and analysts continue to monitor the situation, anticipating potential market shifts as the exchange’s long-held Bitcoin holdings gradually change.
