- Mt. Gox transfers over 10,000 BTC, sparking speculation about potential market impact and creditor repayments.
- Bitcoin’s price fluctuates after Mt. Gox’s Bitcoin transfers, with concerns over the potential market volatility from creditor liquidation.
Mt. Gox, the infamous crypto exchange that collapsed in 2014, made headlines again earlier this week with a huge Bitcoin transfer. On March 25, 2025, the exchange moved 10,608 BTC, worth approximately $929 million, into a new wallet.
[ATTENTION] Mt. Gox just moved 11,501.4 $BTC ($1B) again!
This includes 10,608 $BTC ($929.7M) sent to a new wallet and 893.4 $BTC ($78.3M) to a warm wallet.
Notably, after Mt. Gox’s previous transfer, 332 $BTC ($25.5M) was deposited into #Bitstamp. It is likely the 893.4 $BTC… https://t.co/8HryhiHSoT pic.twitter.com/NBQtcWSREJ
— Spot On Chain (@spotonchain) March 25, 2025
Along with this, 893 BTC, valued at about $78 million, was sent to a hot wallet. These movements have left many speculating about their possible market impact, especially as Mt. Gox still holds a large portion of Bitcoin, with some experts predicting future market fluctuations.
Blockchain analytics firm Arkham Intelligence flagged the transfer from Mt. Gox’s wallet earlier this week. The transfer consisted of 10,608 BTC ($929 million) moved to another Mt. Gox-controlled wallet and 893 BTC (~$78 million) shifted to a hot wallet. A minor amount of Bitcoin, 0.000017 BTC, was also sent to Kraken as a test transaction.
This latest transfer marks Mt. Gox’s third Bitcoin movement in March 2025. Earlier this month, the exchange transferred 12,000 BTC ($1 billion) on March 6 and 11,833 BTC on March 11. These transactions have reignited concerns among traders and analysts about the impact Mt. Gox’s remaining BTC holdings could have on the market.
Speculation on Creditor Repayments
The continued large-scale transfers have led to speculation that they are connected to Mt. Gox’s ongoing bankruptcy proceedings. Following the platform’s collapse over a decade ago, creditors have been waiting for repayments. However, the trustee in charge of the proceedings has faced numerous delays, with the most recent payout deadline extended to October 31, 2025.
Currently, Mt. Gox still controls around 35,000 BTC, valued at approximately $3.1 billion. If these funds are distributed to creditors, depending on how they are handled, they could lead to market shifts.
Some creditors may decide to liquidate their holdings, which could lead to further downward pressure on Bitcoin’s price. However, if creditors hold their Bitcoin, it may reduce the immediate impact on the market.
Impact on Bitcoin’s Price
Bitcoin’s price has already fluctuated in response to these recent transfers. As of press time, Bitcoin was trading at $86,740, declining from a high of $87,420. Over the last 24 hours, Bitcoin had experienced a decline of 0.81%.
The cryptocurrency’s market capitalization stands at $1.72 trillion, with a 24-hour trading volume of $32.44 billion, reflecting a substantial increase of 57.62%.
While the full impact of these Bitcoin transfers remains unclear, Mt. Gox’s actions will undoubtedly continue to shape the market in the coming months. If large quantities of Bitcoin are sold on exchanges, market volatility could increase, potentially leading to another sharp downturn in Bitcoin’s price. On the other hand, if creditors hold onto their BTC, Bitcoin may maintain a more stable movement.