Key Takeaways
- Mt. Gox moved another 11,833 BTC worth $931 million on March 11.
- Bitcoin briefly dropped to $76,784 before recovering to $79,275.
- Mt. Gox aims to complete creditor repayments by October 31, 2025.
On March 11, Mt. Gox executed another significant Bitcoin transfer, moving 11,833 BTC ($931 million), according to blockchain analytics firm Lookonchain.
Of this amount, 11,501 BTC ($905.1 million) was sent to a new wallet, while 332 BTC ($26.1 million) was transferred to a warm wallet.
The transaction cost just $2.13.
Previous transfer
This follows a March 6 transfer of 12,000 BTC ($1 billion), with $15 million of those funds sent to BitGo, a custodian managing repayments for Mt. Gox creditors.
Spot On Chain suggested that the 332 BTC in the warm wallet could also be used for repayments.
Market impact
The movement coincided with a Bitcoin price drop to $76,784—a four-month low—before recovering to $79,275, per CoinGecko data.
Arthur Hayes, CIO of Maelstrom, advised investors to…
… be f*cking patient.
He predicts Bitcoin could bottom around $70,000.
Current holdings & repayment plans
Mt. Gox now holds 24,411 BTC ($1.94 billion) after gradually offloading its $9.2 billion stash since June 2024.
The exchange has set an October 31, 2025, deadline to fully repay creditors.
Historical context
Mt. Gox was the dominant Bitcoin exchange from 2010 to 2014, processing 70-80% of trades before a massive hack led to its collapse.
