Mt. Gox’s $1B Bitcoin Shuffle: What Are They Up To Now?

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So, Mt. Gox, the once-mighty Bitcoin exchange that went belly-up in 2014, is back at it again. They’re like that friend who keeps borrowing money and then suddenly shows up with a new car. Seriously, they just transferred a whopping 11,501.4 BTC, which is about $1 billion. I mean, who needs that much Bitcoin? What are they planning, a Bitcoin theme park? 🎢

Out of that, 10,608 BTC, worth around $929.7 million, was sent to a shiny new wallet. And let’s not forget the 893.4 BTC, valued at $78.3 million, that went to a warm wallet. A warm wallet? Sounds cozy, right? Like a nice cup of cocoa on a winter’s day. But let’s be real, it’s probably just a place for them to keep their Bitcoin until they decide to do something reckless with it. 😏

Oh, and this isn’t their first rodeo. Just a few weeks ago, they moved 332 BTC ($25.5 million) to Bitstamp. You know, just casually tossing around millions like it’s pocket change. And now, everyone’s speculating that the BTC in the warm wallet is about to be moved or sold. Great, just what we need—more market drama! 🎭

[ALERT] Mt. Gox just moved 11,501.4 $BTC ($1B) again!

This includes 10,608 $BTC ($929.7M) sent to a new wallet and 893.4 $BTC ($78.3M) to a warm wallet.

Notably, after Mt. Gox’s previous transfer, 332 $BTC ($25.5M) was deposited into #Bitstamp. It is likely the 893.4 $BTC…

— Spot On Chain (@spotonchain) March 25, 2025

And get this, this is the third big transfer in just four weeks! It’s like they’re trying to set a record for the most Bitcoin moved in the shortest amount of time. They shuffled a total of 12,000 Bitcoin worth over $1 billion on March 6, and then another 11,833 Bitcoin on March 11. What’s next, a Bitcoin dance-off? 💃

Surprisingly, these latest transfers haven’t sent the spot price into a tailspin like they did last year. Remember when every time they moved coins, it was like watching a horror movie? People were panicking about creditor sell-offs. Now, it’s like, “Meh, whatever.”

Many folks think these big transfers mean creditor payouts are finally on the horizon. Creditors can choose to get their payouts in Bitcoin. A Reddit poll from July 2024 showed that most creditors aren’t in a rush to sell. They’re holding onto their Bitcoin like it’s a rare collectible. Who knew creditors could be so patient? 🕰️

Mt. Gox started repaying its creditors in July 2024 with a stash of 142,000 BTC ($11 billion), 143,000 Bitcoin Cash ($47 million), and a cool 69 billion yen ($469 million). Some lucky creditors got their payments through Kraken and Bitstamp. But wait, they still have about 35,000 Bitcoin left, valued at $3.1 billion. It’s like they’re hoarding Bitcoin like it’s toilet paper during a pandemic! 🧻

But here’s the kicker: last October, they decided to push back the full creditor payout deadline to October 31, 2025. Because, you know, why not keep everyone in suspense a little longer? It’s like waiting for the next season of your favorite show, but with way more money involved. 🎬

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2025-03-25 06:39