It is a well-known fact that Mt. Gox Exchange has moved over $700,000,000 in BTC worth to unidentified wallets, its first significant Bitcoin transaction for weeks.
The data collected by Arkham Intelligence, Mt. Gox sent 12,000 BTC, worth $709,000,000 to an address early on Wednesday and 1,265 BTC, worth $75,000,000 to another. Unknown are the addresses of recipients, which has led to speculation about Mt. Gox might distribute even more Bitcoins from its remaining Bitcoin hoard to creditors.
Mt. Gox has billions in debt to affected depositors from its 2014 massive hack. This summer, the exchange is slowly compensating victims. The result has been a pressure to sell on the markets. This exchange has returned approximately 68% lost user funds. Even after the transfers this week, there are still around 34,000 BTC in the exchange’s possession worth about $2 billion.
Mt. Gox’s recent Bitcoin movement. with BTC holding above $59,000. Some analysts believe the sales pressure is diminishing as more creditors choose to hold coins.
Mt. The victims of Mt. Early adopters see Bitcoin as an investment for the long term and do not want to sell.
It is not yet known if this latest BTC transfer will be sold. Gox made its biggest BTC move yet since late July. Often, such on-chain transfers precede payments to creditors.
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Source: bitcoinmagazine.com
