Bitcoin Faces Pressure as Mt. Gox Transfers $932M – Will Creditors Sell?
Nidhi Kolhapur11 Mar 20252 min read
The crypto market continued its decline this week, with its total market capitalization falling to $2.44 trillion on Tuesday—the lowest level since early November. This drop led to over $937 million in liquidations within 24 hours. At the same time, concerns grew as the collapsed Mt. Gox exchange moved 11,833 BTC, worth about $932 million.
Mt. Gox Transfers $910 Million in Bitcoin
Mt. Gox recently moved a large amount of Bitcoin, transferring a total of 11,834 BTC, worth around $910 million. This transfer included:
- 11,502 BTC, valued at approximately $885 million, sent to a new wallet
- 332 BTC, worth about $25.5 million, moved to a “warm” wallet, which is typically used for active transactions
On Monday, the Mt. Gox wallet known as “1Mo1n” moved nearly $900 million worth of Bitcoin. Last week, this wallet had received $1.07 billion in Bitcoin from another exchange, but at the time, blockchain analytics firm Arkham Intelligence did not immediately recognize “1Mo1n” as belonging to Mt. Gox.
Could This Trigger a Bitcoin Sell-Off?
The movement of Mt. Gox’s Bitcoin is closely watched, as it is part of the process of repaying creditors who lost funds when the exchange collapsed. Just five days ago, Mt. Gox sent 166.5 BTC to BitGo, a digital asset custodian, likely as part of these repayments. The latest 332 BTC transfer may also be moved soon for the same purpose.
This has raised concerns about potential market volatility. If creditors decide to sell their repaid Bitcoin, it could add a large supply to the market, possibly affecting prices. Many have waited years to recover their funds, and their choices—whether to sell or hold—could impact Bitcoin’s price in the coming months.
Mt. Gox Still Holds $2.8 Billion in Bitcoin
Some creditors have already received payments through Kraken and Bitstamp, but the deadline for repayments has been extended to October 31, 2025. Despite recent transactions, Mt. Gox still holds around $2.8 billion worth of Bitcoin, keeping investors on alert for further movements.
Every Bitcoin move from Mt. Gox brings the market closer to an uncertain outcome. The only certainty? Volatility ahead.
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FAQs
- Mt. Gox still holds around $2.8 billion in Bitcoin, with repayments expected to continue until the October 31, 2025 deadline.
