Mt. Gox Moves Nearly $1B in Bitcoin Without Shaking Market

Defunct Japanese crypto exchange Mt. Gox made headlines Tuesday after transferring over $1 billion in bitcoin (BTC), marking its third major on-chain movement in four weeks. According to blockchain data platform Arkham Intelligence, Mt. Gox moved 893 BTC (worth approximately $78.11 million) to a hot wallet labeled “1Jbez” and 10,608 BTC (roughly $927.48 million) to a change wallet identified as “1DcoA.” The transactions occurred during early Asian trading hours when BTC was trading above $87,000.

Despite the massive transfer, the market showed little reaction—unlike in mid-2023 when similar Mt. Gox wallet movements caused price volatility due to concerns over creditor liquidations. This shift in sentiment suggests investors may be less worried about immediate sell-offs from Mt. Gox-related wallets.

The exchange previously made similar large-scale transfers on March 6 and March 11, moving over $1 billion and $900 million in BTC respectively. These continued transactions come as part of Mt. Gox’s ongoing preparations for creditor repayments.

Back in October 2024, Mt. Gox extended the repayment deadline for creditors by a full year, pushing it to October 31, 2025. The delay was attributed to ongoing verification and processing of claims.

While the market remains stable for now, traders and analysts continue to monitor Mt. Gox's movements closely as the exchange still holds significant amounts of BTC. Given past volatility tied to its activity, any future transfers—especially those related to actual repayments—could still influence bitcoin price trends.