Mt.Gox Transfers $2.25 Billion in Bitcoin

The bankrupt cryptocurrency exchange Mt.Gox has transferred another 33,964 BTC ($2.25 billion) to an unknown address and conducted an internal transfer of 47,229 BTC ($3.13 billion), according to data from Arkham.

Analysts have been unable to determine the owner of the wallet, beginning with “bc1q26”, to which the funds were sent.

The latest transaction follows a series of Mt.Gox coin transfers worth billions of dollars to specific platforms, including Bitbank, Kraken, Bitstamp, and SBI VC Trade.

In a statement dated July 24, the exchange’s trustee reported that on July 5, 16, and 24, payments were made to over 17,000 clients.

According to Arkham, wallets associated with Mt.Gox still hold 80,128 BTC valued at $5.32 billion.

Analysts have suggested that the sale of coins received by the exchange’s clients could put pressure on the market. However, some believe such concerns are exaggerated.

Previously, Glassnode assessed the potential impact of Mt.Gox sales on the price of Bitcoin. In their view, the market could “absorb” the negative pressure.