According to Arkham Intelligence, a wallet associated with the defunct Mt. Gox exchange transferred 2,500 Bitcoin (around $222 million) to a new address.
This transaction aligns with Bitcoin’s recent surge to nearly $89,000, as shown in CoinGecko’s latest data.
Despite this recent activity, Mt. Gox still retains approximately 44,378 BTC – valued at around $3 billion—within its remaining wallets. This transfer comes shortly after a larger transaction on November 5, where 32,371 BTC (worth roughly $2.2 billion) was moved to an undisclosed address. These transactions continue to capture market interest as the exchange’s repayment to former users remains incomplete.
The timeline for finalizing repayments has been extended; originally set to wrap up by October 31, 2024, it’s now postponed to October 31, 2025, to allow more time for claim verification and processing. While some creditors have reported receiving fiat reimbursements, many continue to wait for their full repayments in Bitcoin or Bitcoin Cash.
Historically, large movements from Mt. Gox wallets have influenced Bitcoin’s price, though recent transfers seem to have less impact. After the latest significant transfer this month, Bitcoin briefly fell below $68,000 but has since rebounded, gaining over 30% amid shifts in global monetary policies and political developments.
As Bitcoin pushed past $111,000 on May 22, breaking its previous all-time high, activity in the futures market erupted in response.
Fifteen years ago, a programmer unknowingly made history when he traded 10,000 bitcoins for two pizzas—marking the first documented purchase using cryptocurrency.
Strategy, the rebranded identity of MicroStrategy, is preparing to raise up to $2.1 billion through the sale of preferred stock as part of its ongoing effort to grow its Bitcoin portfolio.
Bitcoin’s return to six-figure territory has reignited market optimism, but unlike the short-lived surge seen in January, the current rally appears to be built on firmer ground.