Key facts
- Mt. Gox transferred 10,423 BTC valued at approximately $739 million.
- The majority of the Bitcoin moved from cold storage to a new, unmarked address.
- Smaller transfers were made to Mt. Gox's hot wallet and a Bitstamp cold wallet.
- The transfers occurred during Bitcoin block 952,072 around 04:47 UTC.
- Mt. Gox still holds an estimated 34,504 BTC, valued at around $2.43 billion.
- Standard Chartered analyst Geoffrey Kendrick sees Ethereum outperforming Bitcoin.
Mt. Gox, once the world's largest Bitcoin exchange, collapsed in 2014 due to a massive hack. Its rehabilitation trustee is working to repay creditors with Bitcoin and Bitcoin Cash. The recent movement of 10,423 BTC, valued at approximately $739 million, from cold storage to new addresses has reignited market speculation about potential sell-offs and the timing of creditor repayments. Separately, Standard Chartered analyst Geoffrey Kendrick noted that Ethereum's internal metrics are improving, suggesting it may outperform Bitcoin despite current price underperformance. Bitmine Immersion Technologies also acquired a significant amount of ETH, believing it is in the early stages of a 'crypto spring'.