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Recent Bitcoin transfers by Mt. Gox may indicate impending creditor repayments despite the extended deadline.
Key Takeaways
- Mt. Gox moved over 2,300 BTC to an unidentified wallet, marking another significant transfer this month.
- The transfers coincide with the Bitcoin price hitting $100,000, amid potential Federal Reserve policy changes.
A wallet linked to the defunct crypto exchange Mt. Gox moved 2,324 Bitcoin worth $234 million to an unidentified wallet early Thursday, according to data from Arkham Intelligence. The latest transfer took place amid Bitcoin’s rally above $100,000, driven by anticipated Fed rate cuts after the latest inflation report.
The transfer followed Wednesday’s movement of 2,623 Bitcoin, valued at approximately $255 million, from Mt. Gox-labeled wallet to two addresses, with around $10 million reaching B2C2.
The remaining funds were distributed to other addresses before landing in a wallet beginning with “14jvfU.”
The defunct crypto exchange has made several Bitcoin transfers this month, including $2.4 billion worth of Bitcoin to an unknown wallet on Dec. 5, followed by over $350 million the next day.
Following these activities, Mt. Gox’s wallet retains around 36,000 BTC, valued at $3.6 billion in its wallet.
While the purpose of these transfers remains uncertain, historical data suggests that such movements often precede creditor repayments facilitated by centralized exchanges like Bitstamp and Kraken.
Mt. Gox has recently extended its repayment deadline to October 31, 2025, pushing back the original target of October 31, 2024.
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