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In a surprising turn, long-dormant Mt. Gox-linked wallets have executed their first major Bitcoin transfer in over a month, moving roughly $1 billion in BTC. On March 6, blockchain analytics firm Arkham Intelligence flagged the movement of 12,000 BTC from a wallet associated with Mt. Gox. Of these, about 166.5 BTC (roughly $15 million) were sent to the exchange’s cold storage, while the remaining 11,834 BTC was directed to an unknown wallet.
Historical Context and Reserve Updates
[embed]https://twitter.com/arkham/status/1897440224365457673[/embed] According to Arkham Intelligence, Mt. Gox-affiliated wallets now hold approximately 36,080 BTC, valued at around $3.26 billion. This marks a significant transaction compared to a minor 4 BTC transfer in January. Previously, in December, Mt. Gox moved 1,620 BTC, following a massive shift of over 24,000 BTC weeks earlier. Once the world’s largest Bitcoin exchange, Mt. Gox collapsed in 2014 after losing over 800,000 BTC, leaving creditors still waiting for repayments, with the deadline extended to October 31, 2025.
Impact on the Market
Despite this sizeable movement, immediate effects on Bitcoin’s price have been limited. Traders remain cautious, however, as concerns persist about potential sell-offs if full creditor repayments begin. This news comes amid heightened market volatility triggered by U.S. President Trump’s recent trade tariffs. Bitcoin experienced sharp fluctuations—from a high of nearly $94,769 to a dip around $82,681—before rebounding to about $91,224, up 4% in the last 24 hours.