Over 127,000 creditors of the defunct Mt. Gox exchange have been owed $9.4 billion worth of Bitcoin for over 10 years. On November 4, 2024, Mt. Gox transferred over $2.19 billion worth of Bitcoin to three new wallets, a move that suggests further repayments to creditors as the long saga approaches resolution. Notably, some funds were sent to centralized exchanges like OKX and B2C2, which could increase selling pressure on Bitcoin. As of the latest reports, Mt. Gox still holds another $825 million worth of Bitcoin. Historically, creditors have largely retained their BTC instead of cashing out, even after receiving nearly $4 billion worth of Bitcoin in previous distributions. The price of Bitcoin has skyrocketed over 8,500% since the collapse of Mt. Gox in 2014, raising concerns that potential sell-offs from creditors could impact market prices significantly.

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