Mt. Gox Moves $1 Billion in Bitcoin Amid Market Turmoil and New Tariffs

Mt. Gox, the bankrupt crypto exchange, has started moving Bitcoin again. As per a latest update from Arkham Intelligence, on March 6, 12,000 $BTC, worth over $1 billion, was transferred from its wallet (1PuQB), with a transaction fee was just $1.64.

At the same time another 166.5 $BTC, worth around $15 million, was sent to Mt. Gox’s cold wallet (1Jbez). The remaining Bitcoin was moved to an unknown wallet (1Mo1n), which now holds 11,834 $BTC.

Mt. Gox-linked accounts now hold 36,080 $BTC, worth around $3.26 billion, according to Arkham data. This is the first major Bitcoin move from Mt. Gox wallets in a month. The last transfer was only 4 $BTC between cold wallets. It’s unclear what the recent transaction was for. In December, Mt. Gox moved about 1,620 $BTC through unknown wallets, just two weeks after transferring over 24,000 $BTC.

The Bitcoin move happened during a week of market ups and downs, caused by new trade tariffs from U.S. President Donald Trump, which began on March 4. These tariffs shook high-risk assets like crypto.

Bitcoin’s price fluctuated a lot, going from a high of $94,770 on March 3, to a low of $82,681 on March 4. By March 5, Bitcoin had bounced back to over $90,000.