Mt. Gox moves $ 2.4 billion amid record bitcoin growth

The notorious cryptocurrency exchange Mt. Gox, which ceased operations after a large-scale hacker attack in 2011, has made a significant transfer of more than 24,000 bitcoins BTC $104,887.41 Bitcoin -2.01% Market capitalization $2.08 trillion VOL. 24 hours $3.68 billion . This transaction, worth more than $ 2.8 billion, took place on December 5 amid a historic rise in the bitcoin price, which reached $ 104,000. The transfer was made to an unknown address, which caused new speculation among analysts.

Mt. Gox remains in the spotlight because of expected payments to creditors after the 2014 bankruptcy, when the exchange owed more than $ 23 billion. According to Arkham Intelligence, an address linked to the exchange now contains 39,878 bitcoins worth more than $ 4 billion. Although the exact reasons for this transfer are unknown, experts suggest that it could affect the market, as a significant volume of coins entering circulation could potentially drive the price down.

Analyst Tony Sycamore of IG Markets warns cryptocurrency holders against excessive anxiety. He emphasizes that payments to creditors were expected, so this could create opportunities for investors at «favorable buying levels.» Alex Thorn from Galaxy Digital also noted that the pressure on the market due to bitcoin sales may be less than expected.

Data from Glassnode shows that most creditors do not plan to sell their bitcoins, preferring to receive payments in cryptocurrency instead of fiat. This significantly reduces the potential impact on the market, adding to optimism about the future stability of the crypto economy.