Discover Mt. Gox's latest one billion dollar Bitcoin transfer and its implications. Analysts speculate on Mt. Gox's motives.
Arkham Intelligence reported that the bankrupt Mt. Gox exchange made a major Bitcoin (BTC) transfer for the first time in 2024, moving 11,834 Bitcoins worth approximately 1.07 billion dollars to a new address. Additionally, 166.5 more Bitcoins were transferred to the exchange’s cold wallet. Despite this significant movement, Mt. Gox still owns around 36,000 Bitcoins worth over 3.3 billion dollars. Some analysts believe Mt. Gox aims to take advantage of the current market uptrend and sell its Bitcoins. On the other hand, another group sees this action as part of continuing repayments to creditors initiated last year.
