MtGox Moves Over $1 Billion in Bitcoin: Transactions Don't Cause Market Panic
Date: 2025-03-26 Author: Henry Casey Categories: BUSINESS
On March 25, over $1 billion in cryptocurrency was moved from bitcoin addresses associated with MtGox. According to information from Arkham, 893 BTC worth approximately $78.1 million were transferred to the exchange's hot wallet with the designation 1Jbez, and another 10,608 BTC, valued at $927.5 million, were sent to an unknown wallet with the code 1DcoA.
This is the third time in the last four weeks that large sums have been moved from MtGox wallets. Previous transactions also involved amounts in excess of $900 million and even $1 billion. Currently, according to Arkham, there are approximately 35,583 BTC remaining in MtGox-related addresses — over $3 billion at the current exchange rate.
Notably, unlike previous years, when large transfers from MtGox caused concern among investors and raised fears of a massive sell-off of bitcoins, the current transactions have not had a noticeable impact on the market. The spot price of bitcoin has remained virtually unchanged amid these transfers.
Arkham analysts believe that the reason for the lack of panic was MtGox’s recent decision to extend the settlement period with creditors until October 31, 2025. This reduction in time pressure, according to experts, has reduced the level of market speculation associated with a potential sale of assets.
MtGox, once the world's largest cryptocurrency exchange, went bankrupt in 2014 after a massive theft of hundreds of thousands of bitcoins. Since then, creditors have been waiting for their funds to be returned, and any movement of assets from addresses associated with the exchange traditionally attracts the attention of both analysts and traders.
However, recent events have shown that market participants are becoming more resilient to such news and are not rushing to hasty sell-offs.
