Mt. Gox Transfers $2.8 Billion in Bitcoin During Market Surge

The defunct exchange moved 27,871 BTC as Bitcoin surpassed $100,000, with no immediate impact on market stability.

Mt. Gox, a defunct cryptocurrency exchange, transferred 27,871 Bitcoin worth $2.8 billion to an unknown address on December 5, 2024.
The exchange still holds approximately 39,878 BTC, valued at over $4 billion at current prices.
Despite the large-scale transfer, Bitcoin's price remained stable, trading above $100,000, as bullish market sentiment persisted.
This transfer follows Mt. Gox's recent decision to extend creditor repayment deadlines by one year to October 2025, delaying potential market impact from repayments.
Market analysts attribute the muted reaction to Bitcoin's ongoing bull market and increased resilience, with the cryptocurrency reaching a new all-time high of nearly $104,000 earlier in the day.