- Mt. Gox transferred 12,000.17 BTC worth $709.44M
- Most of the transfer is likely headed to Bitstamp exchange
- In July, Mt. Gox transferred 95,523 BTC ($6.14B) across several platforms
- The exchange still holds 46,164 BTC valued at $2.74B
A Second Major Transfer Sparks Market Concerns
Mt. Gox, the infamous Japanese Bitcoin exchange that collapsed in 2014, made another substantial transfer of 12,000.17 BTC, valued at $709.44 million. This activity occurred just four hours ago, and reports suggest the Bitcoin is heading to the crypto exchange Bitstamp. This isn’t the first significant move by the defunct exchange this year.
In July, Mt. Gox transferred a staggering 95,523 BTC (around $6.14 billion) to several platforms, including BitGo, Bitstamp, Kraken, SBIVCTrade, and Bitbank. These transfers are believed to be part of ongoing repayment plans to creditors following the long-standing bankruptcy process.
What’s Next for Bitcoin Holders?
While these transactions are part of Mt. Gox’s restitution efforts, the community is buzzing with concerns about potential sell-offs. With another major transfer in motion, investors are left wondering about the impact on the Bitcoin market. Currently, Mt. Gox still holds 46,164 BTC, valued at roughly $2.74 billion, leaving the possibility of more significant moves on the horizon.
If these assets are sold off, it could lead to further market fluctuations, leaving Bitcoin holders on edge.
