Mt Gox To Sell BTC Like Strategy? Moves $731M to New Wallet

Mt. Gox moved more than 10,000 Bitcoin to new addresses on Tuesday, renewing market attention on the defunct exchange’s creditor repayment process as Bitcoin traded under pressure. On-chain data from Arkham Intelligence showed that Mt. Gox transferred 10,422.65 BTC, worth about $739 million, from cold storage in a transaction recorded at 04:47 UTC. Most of the transfer went to a newly created address. The transaction sent 10,306.35 BTC, valued near $730.78 million, to an unmarked wallet beginning with 14FEEM. A smaller 116.30 BTC portion, worth about $8.25 million, was routed to a known Mt. Gox hot wallet. The move was recorded in Bitcoin block 952,072 and marked the largest Mt. Gox Bitcoin transfer in months. Arkham data showed the transferred coins remained unspent after the move, and there was no immediate sign that the funds had been sent to a custodian or crypto exchange for sale. Mt. Gox Transfers Bitcoin Before October Deadline The transaction comes ahead of Mt. Gox’s current repayment deadline of October 31, 2026. The deadline was extended by a Tokyo court in October 2025 after earlier delays linked to creditor procedures and processing requirements. Mt. Gox began creditor repayments in mid-2024 through partner exchanges including Kraken and Bitstamp. The rehabilitation process has been watched closely by Bitcoin traders because many creditor coins were originally acquired before the exchange collapsed in 2014. The latest transfer followed a pattern seen in earlier Mt. Gox wallet movements, where large internal transfers took place before creditor distributions. However, Tuesday’s transaction does not confirm that repayments or sales are imminent. On-chain trackers showed the Bitcoin had not yet moved onward to exchange deposit wallets. Arkham also showed that Mt. Gox made another smaller movement around 6:46 UTC, sending 116.3 BTC to another address and a very small amount of Bitcoin to a Bitstamp cold wallet. The exact purpose of those smaller transfers was not immediately clear from the wallet data provided. Creditor Repayments Remain Key Market Concern Mt. Gox still holds about 34,504 BTC, valued near $2.43 billion, across its wallets. The remaining balance makes it one of the largest unresolved Bitcoin holdings connected to a failed crypto exchange. The exchange was once the world’s largest Bitcoin trading venue, processing a large share of global BTC volume before its collapse. Mt. Gox filed for bankruptcy protection after losing about 850,000 BTC in a 2014 hack. Around 19,500 creditors have been involved in the repayment process. Since many of the recovered coins were bought when Bitcoin traded far below current prices, markets continue to monitor whether distributions lead to selling by some recipients. Still, the latest transfer by itself does not show that Mt. Gox plans to sell Bitcoin. The movement may be administrative, connected to repayment preparation, wallet management, or trustee operations. Without coins reaching an exchange or sale venue, the market has no confirmation of disposal. Strategy Sale Adds Context as BTC Weakens The Mt. Gox transfer came shortly after Strategy disclosed its first net Bitcoin reduction in nearly four years. The company sold 32 BTC for about $2.5 million between May 26 and May 31, 2026, at an average price of $77,135 per coin. Strategy said proceeds from the sale would help fund preferred stock dividend payments. The company still holds 843,706 BTC, making the sale a very small portion of its total Bitcoin treasury. The timing placed both Mt. Gox and Strategy in focus as Bitcoin traded near two-month lows. BTC recently slipped below $70,000 after facing ETF outflows, weaker risk appetite, and renewed concerns tied to U.S.-Iran tensions. Market participants are watching whether Mt. Gox coins remain idle, move to repayment partners, or enter exchange wallets. For now, the on-chain data shows a large transfer to a new wallet rather than a confirmed sale.