Mt. Gox, massive transfers amid Bitcoin rally... "Really?"

Mount Gox transfers about 2,500 BTC to another wallet
Sudden market fear formed in the midst of the 'bull market party'

Bitcoin (BTC), which has been setting new highs every day, has surpassed $89,000, and it has been revealed that Mount Gox, which had started full-fledged debt repayment this year, transferred about 2,500 BTC.

According to data from the on-chain analysis platform Arkham Intelligence on the 12th, the Mount Gox wallet transferred 2,500 BTC to the wallet '1PQZw2' around 1:51 pm on the 12th.

Mount Gox was once the world's largest cryptocurrency exchange, and after the hacking incident in 2014, it went bankrupt, and after the court's bankruptcy approval last year, it started debt repayment from July this year, and was cited as the main player in the market decline in the second quarter of this year.

As Mount Gox showed another large-scale BTC transfer movement, a sense of fear began to be created in the cryptocurrency community, which was enjoying the bullish market atmosphere. This is because at the point where BTC has risen sharply, Mount Gox's debt situation could extinguish the fire of the bullish market.

Since the exact information about Mount Gox's BTC transfer has not been revealed yet, experts are expressing the opinion that it is just a reference material.

Mount Gox transferred about 32,371 BTC to another wallet on the 5th of this month, and it was revealed that it still holds about 44,378 BTC.

The originally scheduled debt repayment completion date for Mount Gox was October 31 this year, but considering the additional time required for verification of creditors, the court has postponed the debt repayment completion date to October 31 next year.

Reporter Kwon Seung-won ksw@blockstreet.co.kr