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Market
Primary destination of transferred BTC from Mt. Gox by end of 2024
4
Resolution / Starting Odds
Exchange wallets • 33%
Private wallets • 33%
Mix of both • 34%
Blockchain analysis reports and financial news
Story
Mt. Gox Moves 107,547 BTC Worth $7.3B, Causing 2% Dip in Bitcoin
May 28, 2024, 04:48 AM
Mt. Gox, the defunct cryptocurrency exchange, has transferred a significant amount of Bitcoin to unknown wallets. On May 28, over 140,000 BTC, valued at approximately $9 billion, were moved. This marks the first movement of these funds in five years. The transfers are likely part of a plan to repay creditors, with Mt. Gox expected to distribute its holdings of 142,000 BTC and 143,000 BCH before October 31, 2024. The movement of such a large volume of Bitcoin has caused market reactions, including a 2% dip in Bitcoin's price. Notably, 107,547 BTC worth $7.3 billion were transferred to address 1Jbez, which appears to be an exchange custody wallet.
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Private wallets • 33%
Exchange platforms • 33%
Investment funds • 33%
Positive impact • 33%
No significant impact • 33%
Negative impact • 34%
All distributed • 33%
Partially distributed • 33%
None distributed • 34%
Mostly in BTC • 33%
Mostly in ETH • 33%
Evenly distributed • 34%
Increase • 50%
Decrease • 50%
Increased trust • 33%
No change in trust • 33%
Decreased trust • 34%
Further disbursements of BTC • 25%
Investment in other cryptocurrencies • 25%
Conversion to fiat currencies • 25%
Holding the remaining assets • 25%
Runes Protocol • 40%
Original Bitcoin Protocol • 40%
Another New Protocol • 20%