mt. GOX transfers one billion USD in Bitcoin-preparations for creditor repayments meet for urgency

<p> <strong> mt. GOX transfers one billion USD in Bitcoin-preparations for creditor repayments meet for urgency </strong> </p>

mt. GOX makes massive Bitcoin transfer: What that means for the creditors

The no longer existing crypto exchange Mt. Gox recently carried out a significant Bitcoin transfer, in which one billion USD was moved to Bitcoin (BTC). This transaction takes place in the context of the upcoming payments to the creditors of the stock exchange, whose repayment is planned by October 2025.

massive transmission of 11,501 Bitcoin

As the blockchain analysis company Arkham Intelligence reports, Mt. Gox has transferred a total of 11,501 bitcoins to two wallets. A change wallet (address: 1dcoa) received 10,608 BTC worth 929 million USD, while the Hot Wallet from Mt. Gox (address: 1JBEZ) received 893 BTC worth 78 million USD.

This transaction follows two significant transfers that took place at the beginning of the month. On March 6, the stock exchange transferred 12,000 BTC worth one billion USD. A week later, a further transfer of 11,834 BTC worth 910 million USD was carried out. Interestingly, 332 BTC worth over 25 million USD were paid to the Bitstamp exchange, which, in view of the upcoming repayments, indicates possible liquidation activities. It is believed that the 893 BTC, which were sent to the Hot Wallet, could soon get in motion again.

According to this latest transfer, Mt. Gox still holds 35,583 BTC worth over $ 3 billion. These activities could prepare for an impending compensation for the creditors who lost money through the notorious hack of the stock exchange over a decade.

urgency of repayments

The deadline for the repayments to the creditors has increased with a new period until October 31, 2025. In a message, the trustee, who managed the assets of Mt. Gox, announced that many rehabilitation believers have not yet received their repayments because they have not completed the necessary procedures for the recovery.

Bitcoin course and market reaction

Despite the massive transfers, they had only minor effects on the Bitcoin course. Within the last 24 hours, the Bitcoin course has only fallen by 0.19 % and was $ 86,756 at the time of writing.

It should be noted that Bitcoin is gradually recovering from the recent losses and tries to break out of a descending wedge pattern. A confirmation of this pattern could ensure further profits up to USD 95,000.

Arthur Hayes, former CEO of Bitmex, expressed a bullish forecast for Bitcoin and explained that the course would reach $ 110,000 than $ 76,500. Hayes argues that the US Federal Reserve may pass from a quantitative tightening (QT) into a quantitative loosening (QE), which could increase liquidity and would therefore not hinder the potential increase of Bitcoin.

FAZIT

The latest activities by Mt. Gox, especially the large Bitcoin transfers, indicate intensive repayment to the creditors and illustrate the urgency of the situation. At the same time, the Bitcoin market remains attentive and reacts to these developments, while investors and analysts continue to look at the future course development.