30s Summary

Bankrupt crypto exchange Mt. Gox has transferred about $172.5 million in Bitcoin to unknown digital wallets, coinciding with Bitcoin’s value surpassing $100,000. Around 1,619.6 Bitcoin were moved to two different addresses. It is often the case that creditor payouts follow when Mt. Gox moves Bitcoin holdings. Previously, the exchange moved over 24,000 Bitcoins just after Bitcoin hit $100,000. The exchange reportedly still has about 36,085 Bitcoins, roughly $3.86 billion. Despite these movements, Bitcoin’s value has remained stable.

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Mt. Gox, an old crypto exchange that went bankrupt, moved about $172.5 million worth of Bitcoin to some unknown digital wallet. This coincides with Bitcoin’s value going over $100,000. Reports indicate that around 1,619.6 Bitcoin was moved to two unknown digital addresses last Dec. 17.

Some of these Bitcoins ended up in another wallet, leaving about 108 Bitcoins. The Bitcoins started circulating among different wallets before finally settling in a digital wallet that currently has 300 Bitcoins.

No one really knows why Mt. Gox is moving these Bitcoins. The exchange went bankrupt way back in 2014. However, whenever Mt. Gox moves Bitcoin holdings, creditor payouts usually follow.

Roughly two weeks ago, Mt. Gox also moved over 24,000 Bitcoins, worth almost $2.5 billion. This happened just minutes after Bitcoin’s value hit $100,000 for the first time. According to some data, the exchange still holds about 36,085 Bitcoins, currently valued at around $3.86 billion.

Bitcoin’s value has been over $100,000 since Dec. 13; regardless, Mt. Gox moving Bitcoins hasn’t seemed to impact its value. As of now, Bitcoin’s value has remained stable at around $106,500.

Earlier in October, the liquidity manager in charge of Mt. Gox’s stack of Bitcoin extended the deadline for paying back creditors to Oct. 31, 2025. They said that many are yet to receive their repayments since they haven’t completed the necessary processes for receiving repaid money.