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Since its collapse in 2014, the ghost of Mt. Gox continues to loom over the crypto market. Every movement of its Bitcoins raises questions and speculations, awakening old demons among investors. The latest episode: the transfer of 1,620 BTC valued at 172 million dollars, just after a new Bitcoin record around 107,000 dollars. Enough to stir the markets without shaking their stability.
A mysterious transfer that intrigues
Mt. Gox, the cryptocurrency exchange bankrupt for over a decade, is still far from having completely disappeared from the radar.
On December 17, it transferred approximately 1,620 BTC via anonymous addresses, in two separate transactions. The first, with a volume of 1,427.9 BTC, passed through several wallets before settling in an address starting with “1DeY”.
The second, of 191.7 bitcoins, took an even more fragmented path, ending in an unknown address named “1KLr“.
Is the platform using these movements to prepare refunds? A mystery. Historically, such actions have preceded distributions to creditors, but never sparked this much interest. The timing is also intriguing: these transfers occur just hours after Bitcoin flirted with its new all-time high.
Mt. Gox: a persistent shadow over Bitcoin?
With over 36,000 BTC still under its control, Mt. Gox remains a dormant but powerful player. Every major movement triggers fears of a downward pressure on the market.
Yet, contrary to expectations, Bitcoin has remained surprisingly stable, oscillating around 106,500 dollars after this massive transfer. A situation that suggests markets are now more resilient to the “historic” shocks of the crypto ecosystem.
The creditors, for their part, are still patiently waiting for their refunds. Initially scheduled for 2023, the deadline has been pushed to October 31, 2025. The reason: complex procedures and a number of creditors still not having completed the necessary formalities to receive their funds.
If the movements of Mt. Gox continue to make headlines, they no longer manage to shake the fundamentals of Bitcoin. A resilience that reflects the growing maturity of the market in the face of past ghosts. But one question remains unanswered: are these mysterious transfers heralding a massive refund or simply another episode in an endless saga? To be continued…
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Fasciné par le bitcoin depuis 2017, Evariste n’a cessé de se documenter sur le sujet. Si son premier intérêt s’est porté sur le trading, il essaie désormais activement d’appréhender toutes les avancées centrées sur les cryptomonnaies. En tant que rédacteur, il aspire à fournir en permanence un travail de haute qualité qui reflète l’état du secteur dans son ensemble.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
