Mt. Gox has moved $930 million in Bitcoin ahead of its looming repayment deadline. The massive transfer has fueled market speculation as creditors anticipate long-awaited compensation, while traders brace for potential price fluctuations.
Blockchain analytics show that 11,502 BTC—about $905.1 million—were transferred to a new wallet, and 332 BTC—probably for distribution to creditors—were placed into a warm wallet. On March 6, Mt. Gox moved similarly—transporting 12,000 BTC worth over $1 billion, with reportedly $15 million delivered to BitGo, a custodian handling creditor repayments.
Reactions of Bitcoin Prices to Mt. Gox Transfers
Bitcoin dropped sharply 2.4% shortly following the most recent transaction, falling to $76,784 in 30 minutes. The result was its lowest price since November 2024, a time of the bitcoin surge brought on by U.S. election conjecture. Though some experts remain wary, Bitcoin soon recovered to $79,275.
Maelstrom’s Chief Investment Officer, Arthur Hayes, cautioned investors to remain patient since he foresaw Bitcoin declining to $70,000 before showing a robust comeback.
Reserves Dwindle of Mt. Gox
Mt. Gox’s reserves have dropped significantly as it keeps selling off its Bitcoin assets. From $9.2 billion in June 2024, reports indicate that the exchange now boasts around 24,411 BTC, valued at $1.94 billion—down from.
Important points of the Mt. Gox repayment schedule consist of:
By October 31, 2025, creditors should get paid.
The renowned 2014 hack claimed 850,000 BTC from the exchange.
Before its fall, Mt. Gox enabled seventy to eighty percent of all Bitcoin transactions at their height.
Market Viewpoint
Mt. Gox dumping large volumes of Bitcoin raises questions about short-term price volatility even now. Strong institutional demand, however, could serve to absorb the supply and hence stabilize prices over time.
Investors will be keenly monitoring Mt. Gox’s remaining Bitcoin holdings and any more activities that can influence market mood as the deadline for October payback approaches.
