Mt. Gox Transfers $2.4 Billion in Bitcoin Amid Repayment Extension

The defunct exchange moves substantial Bitcoin holdings as creditor repayment is delayed to 2025, impacting market volatility.

Mt. Gox has moved over 34,000 BTC, valued at $2.4 billion, to new wallet addresses, as tracked by Arkham Intelligence.
The repayment deadline for Mt. Gox creditors has been extended by one year to October 31, 2025.
Market analysts expect increased volatility with potential price swings up to $8,000 amid ongoing U.S. election activities.
Despite the large transfer, Bitcoin's price showed resilience, trading over $70,000, though it briefly dipped below $68,000.
Mt. Gox's historical significance and the repayment process continue to influence Bitcoin market dynamics.