Mt. Gox has made several large Bitcoin transactions to the B2C2 Group, an institutional crypto trading company. Between December 5 and December 24, Mt. Gox made systematic daily movements of 3,631.87 BTC, equivalent to $364.4 million. This came after a significant moment in the history of Bitcoin when, on December 5, 2024, for the first time, Bitcoin touched the $ 100,000 mark.
Daily Transfers: A Structured Approach
The transfers were made daily on weekdays, with the transfer amount varying between 200 and 300 BTC daily. Notable transactions included:
- December 5: 200 BTC worth $20.55 million.
- December 17: 300 BTC of $31.96 million, which is the maximum daily transaction.
- December 24: The last transfer of 131.87 BTC was equal to $12,42 million.
This structured transfer pattern shows Mt. Gox’s clear plan to minimize market interference while remaining transparent. The small and frequent orders enabled the company to meet the repayment requirements without causing undue fluctuation in the cryptocurrency market.
Background: Mt. Gox’s Rehabilitation Process
Originally the leading BTC trading platform, Mt Gox handled more than 70% of all the BTC transactions globally before it shut down in 2014 after being hacked, leading to the loss of 740000 BTC. Since then, the exchange has struggled in court for many years to compensate creditors.
In July 2024, they started repaying the creditors; however, it was done under the extension of the repayment terms and conditions up to the 31st of October 2025, which the Tokyo court approved. This is coupled with recent transfers to the B2C2 Group as part of the repayment undertaking. Around mid-November 2024, Mt. Gox moved 6,900BTC or $588 million as part of the repayment process, another positive step.
Impact on Bitcoin Price
These transfers, however, occurred at such a time that market participants saw the correlation between the timings and Bitcoin’s price rise. Selling pressure from creditors was expected, but it did not deter the high price of Bitcoin as it continued to go up.
Market analysts have pointed out that Mt. Gox avoided bigger risks by transferring in smaller portions. This approach encouraged traders and reduced the perception of the dumping of BTC, thus enabling the Bitcoin price to maintain an upward momentum.
Future Outlook
Mt. Gox has controlled a significant amount of Bitcoins even today. With the repayment deadline set for October 2025, such actions will further impact the market. Such a development of an exchange’s payout plan is a rational approach to handling large crypto assets responsibly and meeting the interests of creditors.
