{"id":27409,"date":"2024-08-21T13:01:25","date_gmt":"2024-08-21T13:01:25","guid":{"rendered":"https:\/\/bitcoins-101.com\/2024\/08\/21\/mt-gox-moves-over-700-million-in-bitcoin\/"},"modified":"2024-08-21T13:01:25","modified_gmt":"2024-08-21T13:01:25","slug":"mt-gox-moves-over-700-million-in-bitcoin","status":"publish","type":"post","link":"https:\/\/bitcoins-101.com\/2024\/08\/21\/mt-gox-moves-over-700-million-in-bitcoin\/","title":{"rendered":"Mt. Gox Moves Over $700 Million in Bitcoin"},"content":{"rendered":"<p>The notorious <a href=\"https:\/\/bitcoinmagazine.com\/tags\/mt-gox\">Mt. Gox<\/a> exchange has made its first major Bitcoin transaction in weeks, shifting over $700 million worth of BTC to unknown wallets.<\/p>\n<p>According to data tracked by <a href=\"https:\/\/platform.arkhamintelligence.com\/explorer\/entity\/mt-gox\">Arkham Intelligence<\/a>, Mt. Gox moved 12,000 BTC worth $709 million to one address and 1,265 BTC worth $75 million to another early Wednesday. The recipient addresses are unknown, sparking speculation that Mt. Gox could distribute more coins to creditors from its remaining Bitcoin hoard.<\/p>\n<p>Mt. Gox owes billions to depositors affected by its massive 2014 hack. The exchange has been slowly reimbursing victims, putting selling pressure on markets this summer.\u00a0 They have returned about 68% of lost user funds so far. But the defunct exchange still holds around 34,000 BTC worth nearly $2 billion even after this week&#8217;s transfers.\u00a0<\/p>\n<p>The market remained unfazed by Mt. Gox&#8217;s latest Bitcoin movement, <a href=\"https:\/\/www.bitcoinmagazinepro.com\/bitcoin-price-live\/\">with BTC holding above $59,000<\/a>. Some analysts think the selling pressure from reimbursements is fading as creditors opt to hodl coins.<\/p>\n<p>Mt. Gox victims have defied expectations by seemingly holding rather than instantly selling their returned bitcoin. Many early adopters view Bitcoin as a long-term investment and are reluctant to sell.<\/p>\n<p>While it is unclear if the latest transfer will be sold, it marks Mt. Gox&#8217;s first major BTC shift <a href=\"https:\/\/bitcoinmagazine.com\/business\/mt-gox-moves-6-billion-worth-of-bitcoin\">since late July<\/a>. Such on-chain movements often precede distributions to creditors.<\/p>","protected":false},"excerpt":{"rendered":"<p>The notorious Mt. Gox exchange has made its first major Bitcoin transaction in weeks, shifting over $700 million worth of BTC to unknown wallets. According to data tracked by Arkham Intelligence, Mt. Gox moved 12,000 BTC worth $709 million to one address and 1,265 BTC worth $75 million to another early Wednesday. The recipient addresses [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-27409","post","type-post","status-publish","format-standard","hentry","category-crypto-news"],"_links":{"self":[{"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/posts\/27409"}],"collection":[{"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/comments?post=27409"}],"version-history":[{"count":0,"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/posts\/27409\/revisions"}],"wp:attachment":[{"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/media?parent=27409"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/categories?post=27409"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/tags?post=27409"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}