As the long-defunct cryptocurrency exchange Mt. Gox moves closer to finalizing its restructuring process, significant Bitcoin (BTC) transfers are appearing on-chain. After nearly a decade of delays, Mt. Gox has until October 2025 to repay its creditors—a long-awaited resolution for many affected by one of crypto’s largest collapses.
On-chain data from Arkham Intelligence has revealed large Bitcoin movements linked to Mt. Gox. Earlier today, the exchange transferred 191.678 BTC, worth about $20.42 million, to a new address: bc1q6h…gf9zaa. Shortly after, another 1,428 BTC, valued at approximately $152 million, was moved to a separate address: 13JrY5…MVZJCX.
These transactions are part of preparations for creditor repayments. Currently, Mt. Gox holds 36,085 BTC, worth around $3.84 billion, which will be distributed to creditors via various cryptocurrency exchanges in the coming months.
In recent weeks, addresses linked to Mt. Gox have shown increased activity, suggesting the repayment process is gaining traction.
The resolution of the Mt. Gox case marks a major milestone for Bitcoin and the broader crypto market, especially as digital assets and Web3 products continue gaining mainstream attention. However, the distribution of Mt. Gox Bitcoin has often sparked short-term concerns.
Market watchers fear that releasing such large amounts of BTC could create selling pressure, pushing prices lower temporarily.
Many of Mt. Gox’s creditors are retail traders who have waited nearly ten years for repayment. To make up for lost time and opportunity, these investors may shift their focus to altcoins. Unlike Bitcoin, altcoins are known for higher volatility, offering bigger risks but also the potential for larger returns—a tempting opportunity for those eager to regain their footing.
Despite uncertainties around the Mt. Gox repayments, Bitcoin’s price has remained strong. In the past 24 hours, BTC climbed over 2%, trading at approximately $106,591 during the early European session on Tuesday, December 17. This upward move pushed Bitcoin’s market cap to over $2.11 trillion.
Notably, Satoshi Nakamoto’s BTC holdings have now surpassed the combined estimated wealth of Microsoft co-founder Bill Gates—a symbolic sign of Bitcoin’s growing dominance in the financial world.
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