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🏮BREAKING:
Mt. Gox transfers 10,608 #Bitcoin worth $953 million to a new wallet after 8 months of inactivity
Mt. Gox still holds 34,689 Bitcoin worth about $3.14 BILLION
Creditor Payouts: These large BTC movements strongly suggest Mt. Gox is preparing for further creditor repayments. Because creditors have the option of getting paid in BTC, this could be part of that process.
Market Impact Risks: If a big chunk of this BTC ends up on exchanges could add sell-side pressure on BTC markets. But so far, recent transfers haven’t caused major volatility.
Long-Term Lock-Up: With ~34,689 BTC still with Mt. Gox, a significant supply remains off the market — which could be bullish.
#Market
#Btc