MtGox Transfers 11,501 BTC Amid Ongoing Repayment Preparations

In Brief:

MtGox transferred 11,501 BTC (~$1 billion) to two addresses earlier today.
10,608 BTC ($927M) went to an external address; 893.4 BTC ($78M) was sent to a MtGox hot wallet.

On March 25, blockchain monitoring account The Data Nerd reported that a known MtGox wallet moved 11,501 BTC—equivalent to approximately $1.005 billion at current market prices.

The transaction was split between two destinations:

• 10,608 BTC (~$927M) was transferred to an address starting with 1DcoA, suggesting possible preparations for creditor repayments or custody restructuring.
• 893.4 BTC (~$78.11M) was moved to a MtGox hot wallet, potentially for liquidity or administrative needs.

This follows a series of wallet movements by the defunct exchange, which is in the process of repaying creditors after a decade-long bankruptcy proceeding. The large volume has sparked fresh discussions in the market about potential selling pressure, although no confirmed distributions have yet taken place.

The market has so far shown resilience, with BTC hovering near $87K despite the transfer.

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