Bitcoin (BTC) linked to the Mt. Gox exchange that collapsed in 2014 started moving again on Tuesday after a similar transfer last week. This could signal a resumption of payments to creditors after billions of dollars worth of crypto assets were distributed last year.
An address associated with Mt. Gox transferred 11,834 BTC worth $930 million to new wallets, Arkham Intelligence data reported. Analysts note that about $26 million BTC was deposited into an “operational wallet,” presumably in preparation for paying creditors, while the remaining funds went to a “change wallet.”
Mt. Gox still has $2.9 billion worth of crypto assets on its wallets, earmarked for payments to creditors this October.
The latest transactions could mean that the remaining assets will soon be paid out to users, with the deadline set for October 31. This again raises the question of possible selling pressure at a time of crypto market volatility.