Mt.Gox shifts even more billions into Bitcoin
More than two billion dollars (about 2.1 billion euros) in Bitcoin have been transferred from the estate of the bankrupt exchange Mt.Gox.
More than two billion dollars (about 2.1 billion euros) in Bitcoin have been transferred from the estate of the bankrupt exchange Mt.Gox. There is concern in the market about a possible wave of selling.
An additional 32,371 Bitcoin, worth about 2.1 billion euros, have been transferred to settle the bankruptcy of trading platform Mt.Gox. According to data service Spotonchain, the Bitcoin were distributed to three wallets, presumably in preparation for further payouts to creditors.
Creditors have been waiting for their money for more than a decade. Mt.Gox went bankrupt in February 2014 after a total of 850,000 Bitcoin in customer and company accounts were lost in a hack. In the year 2024, they finally began the phased repayment of the 142,000 Bitcoin secured to creditors. In the summer, a large portion, worth four billion dollars (about 3.8 billion euros), was already paid out of the total nine billion dollars (about 8.5 billion euros).
This could briefly increase selling pressure for Bitcoin again in the coming weeks. Since Mt.Gox's bankruptcy, the Bitcoin price has risen 8,500 percent. That it does not necessarily lead to massive sales was already evident when the four billion dollars (about 3.8 billion euros) refund went relatively quietly. According to Spotonchain Mt.Gox now manages Bitcoin worth $825 million (about 780 million euros).
