Crypto exchange Mt. Gox has moved another $ 152 million in bitcoins

Cryptocurrency exchange Mt. Gox, which collapsed more than 10 years ago, has taken another step towards paying off creditors — the bankrupt platform has moved $ 152 million in bitcoins BTC $104,176.13 Bitcoin -0.34% Market capitalization $2.06 trillion VOL. 24 hours $2.52 billion to new wallets. According to Coinpedia, this was part of the preparations for a large-scale refund to affected users.

After years of litigation and delays, bitcoin payments to Mt. Gox customers should start soon. The exchange has significant assets in BTC that were saved after its bankruptcy in 2014 due to a large-scale hack. The total amount to be returned to creditors is estimated at billions of dollars.

The transfer of $ 152 million in BTC has caused concern among crypto investors, as such transactions could affect the market due to the possible massive sale of coins. Nevertheless, analysts believe that the payments will be made gradually to minimize the risk of a sharp price drop.

This process is closely monitored by both traders and crypto market participants, as Mt. Gox owns a significant amount of bitcoins that can affect market dynamics.

According to Arkham Intelligence, the address associated with 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 from 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 of Galaxy Digital also noted that the pressure on the market due to bitcoin sales may be less than expected.