Mt. Gox Moves $1.2B in Bitcoin Amid Repayment Plan, BTC Surges

Defunct crypto exchange Mt. Gox transferred over 12,000 BTC, valued at more than $1.2 billion, to a new wallet early Thursday. Trustees moved the funds from wallet "1PuQBjpPfAuANa3KM4HBdfF98BC7wnWhTb" to a cold wallet and a new address, "1Mo1nW5ZM5m2tx9qMsYm2YJxGn3TeS9gR9."

This marks one of the largest BTC transfers from Mt. Gox since its collapse in 2014, when hackers stole 740,000 BTC—now worth over $15 billion. Such wallet movements typically indicate asset consolidation before eventual sales on exchanges.

Mt. Gox was once the world's leading Bitcoin exchange, handling over 70% of global BTC transactions before its bankruptcy. Its trustees are working on a repayment plan, with a final deadline set for October 31, 2025.

Bitcoin reacted positively to the news, surging 6.5% in the past 24 hours to trade above $92,300 during Asian market hours. The price movement signals strong market sentiment despite looming sell pressure from Mt. Gox repayments.

As investors monitor these developments, concerns remain about the potential impact of further BTC liquidations. Market watchers speculate whether Mt. Gox's creditors will hold or sell their long-awaited reimbursements, potentially influencing Bitcoin’s price trajectory.