Mt. Gox Wallet Moves 27,871 BTC As Bitcoin Hits $100,000 Milestone

The activities related to the portfolio of Mt. Gox grabbed attention again with a massive transfer of 27,871 BTC, worth around $2.8 billion, to an unidentified address on December 4th. This transaction coincided with Bitcoin hitting an all-time high above $100,000, marking a historic moment for the cryptocurrency.

Analyzes by Arkham Intelligence reveal that the wallet, linked to the defunct exchange, still holds 39,878 BTC worth more than $4 billion.

This latest move follows a previous transfer of 2,500 BTC in mid-November, which is in the middle of the ongoing refund process of Mt. enjoy

In July of this year, the trustee of Mt. Gox confirmed that the company had begun paying creditors using Bitcoin and Bitcoin Cash (BCH). The process required creditors to verify their accounts and register with one of several designated crypto exchanges to facilitate distribution.

The repayments were initially due to end by October 2024, but the deadline was recently extended to October 31, 2025. The extension was attributed to several factors, including incomplete paperwork from many creditors and a system error that led to “double deposits” by some, prompting requests for refunds of excess funds.

Historically, these portfolio activities have sparked bearish market sentiment; however, Bitcoin’s recent price trajectory suggests otherwise. The cryptocurrency is currently trading near $103,000 with a daily gain of 6%. Its performance in recent weeks has led to broader market optimism despite potential liquidity risks, and experts believe the macro outlook paints a bullish picture for Bitcoin.

In a statement to CryptoPotato, Maple Finance co-founder Joe Flanagan said:

“Today is a pivotal time for the crypto industry, fueled by enhanced regulations and growing institutional interest. Bitcoin’s rise above $100,000 highlights the positive momentum from recent events, including the appointment of Chairman of the Trump’s pro-crypto SEC This marks the beginning of a transformative phase, not just a recovery.

As we look towards 2025, new projects, adoption of traditional finance and blockchain innovation will pave the way for growth. The foundations being laid now promise exciting opportunities and real-world applications that will shape the future of the industry. Maple is excited to support this change, bringing DeFi and institutional markets together.”

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