News 
March 6, 2025 
3 min. 
In a significant development that has caught the attention of cryptocurrency investors worldwide, Mt Gox has moved 12,000 Bitcoin worth over $1 billion to an unknown wallet. This massive transfer comes at a critical moment when Bitcoin’s price is reaching new heights, hovering around $92,000. The transaction, confirmed by blockchain analytics firm Arkham Intelligence, marks the first major movement of funds from the bankrupt exchange since January.
Mt Gox Transaction Details Raise Questions About Timing
The bulk of the transferred Bitcoin—approximately 11,834 BTC—landed in an unidentified wallet labeled “1Mo1n,” while a smaller portion of 166.5 BTC (roughly $15 million) was sent to Mt Gox’s cold storage wallet “1Jbez.” Despite this substantial movement, Mt Gox still holds about 36,080 BTC in its linked wallets, valued at approximately $3.26 billion. Crypto analyst Ali Charts noted on social media that if Bitcoin manages to reclaim the $97,000 level, it could potentially surge toward $150,000 according to technical indicators.
- Get in to know the difference between OKX and Binance
Market Remains Resilient Despite Distribution Concerns
This transfer has sparked mixed reactions in the cryptocurrency community, with some investors expressing concerns about potential sell-offs once creditor repayments begin. Jacob King, a prominent figure in the crypto space, suggested the movement could signal an imminent “dump” of assets.
Nonetheless, following the transfer, Bitcoin’s price has been exhibiting extraordinary constancy as it remains around the $92,000 threshold. Forerunners of the White House Crypto Summit, which is predicted to shed more light on the Bitcoin Strategic Reserve, have further complicated the state of the market. Peter Schiff, the prominent gold advocate, also commented, reasoning that gold would win in the end, if Bitcoin relied on the dollar’s downfall. Historical records grant a bit of comfort to investors since earlier Mt. Gox trades have not wreaked havoc on the market.
