Mt. Gox, the infamous crypto exchange that collapsed in 2014, has once again moved a substantial amount of Bitcoin (BTC), signaling potential preparations for creditor repayments. This latest transaction comes amid broader market corrections, raising concerns about increased selling pressure.

$930 Million BTC Transfer Sparks Speculation

On Tuesday, wallets linked to Mt. Gox transferred 11,834 BTC—valued at approximately $930 million—into new addresses, according to Arkham Intelligence. Of this, $26 million was sent to an “operations wallet,” potentially for creditor distribution, while the rest was placed in a “change wallet.”

This follows last week’s $1 billion internal reshuffling and a $15 million transfer to BitGo, a crypto custodian assisting in the repayment process. The series of transactions suggests that the long-awaited distribution of Mt. Gox’s remaining Bitcoin reserves may soon begin.

$2.9 Billion in BTC Still Held by Mt. Gox

Despite these large movements, Mt. Gox wallets still hold around $2.9 billion in BTC. The exchange’s trustee had previously postponed the repayment deadline to October 31, 2025, delaying immediate fears of market impact. However, the recent activity has reignited speculation about when and how the remaining assets will be released.

Impact on Bitcoin Prices and Market Sentiment

Historically, Mt. Gox-related BTC transfers have triggered volatility in the crypto market, as investors anticipate a flood of Bitcoin entering circulation. BTC has already declined nearly 30% from its January all-time high, and the possibility of large-scale creditor payouts could further impact prices.

While some analysts believe repayments will be gradual to minimize market disruption, others warn of potential sell-offs as creditors seek liquidity after a decade-long wait.