Today’s market turmoil was largely due to Mt.Gox’s accidental transfer of billions of Bitcoin to new addresses.
▪️ This morning, 42,830 BTC ($2.94 billion) was transferred to an unknown address.
▪️ Later, another 64,636 BTC ($4.2 billion) was transferred.
▪️ By the end of the day, another 34,138 BTC ($2.3 billion) was transferred.
In total, more than $9.44 billion in Bitcoin was transferred in one day.
These transfers are part of Mt.Gox’s reparations plan, and the custodian is moving Bitcoin to different wallets in preparation for possible distributions this year.
The move seemed to unsettle traders, but the former Mt.Gox CEO assured that “there will be no Bitcoin dumps in the near future.”
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