Mt. Gox Transfers $709M In Bitcoin: Are Creditor Payouts Almost Over?
Portfolio Pulse from Murtuza Merchant
Mt. Gox has transferred $709 million in Bitcoin, indicating potential nearing of creditor payouts. The defunct exchange moved 12,000 BTC to an unidentified wallet and 1,264.69 BTC to a cold wallet. This follows previous large transfers, suggesting creditor repayments may be imminent.
August 21, 2024 | 12:19 pm
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NEUTRAL IMPACT
Mt. Gox's transfer of $709M in Bitcoin suggests that creditor payouts may be nearing completion. This could impact Bitcoin's market dynamics as large amounts of BTC are moved.
The transfer of a large amount of Bitcoin by Mt. Gox could signal the final stages of creditor repayments. Historically, such movements have been followed by repayments, which could affect Bitcoin's market supply and demand dynamics. However, the immediate impact on BTCUSD is uncertain as the funds have not yet been moved further.
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