Mt. Gox Moves $1 Billion in Bitcoin Amid Market Turmoil and New Tariffs
The bankrupt crypto exchange Gox Hill has started moving bitcoin again. According to the latest update from Arkham Intelligence on March 6, 12,000 BTC was transferred from its wallet (1PUQB), worth more than $1 billion, with a transaction fee of only $1.64.
Meanwhile, another 166.5 BTC, worth about $15 million, was sent to the Cold Wallet (1JBEZ) in Gox Mountain. The rest of the Bitcoin was moved to an unknown wallet (1MO1N) and now has 11,834 BTC.
According to Arkham Data, the accounts associated with GOX Mountain now hold 36,080 BTC worth approximately $3.26 billion. This is the first major Bitcoin made from Gox Mountain Wallet in a month. The last transfer is 4 BTC between cold wallets. It is not clear that the recent deal is used. Last December, Gox Hill moved about 1,620 BTC through an unknown wallet, just two weeks after transferring more than 24,000 BTC.
Bitcoin’s move comes after new trade tariffs from U.S. President Donald Trump hit a week after the market fell to March 4.
Bitcoin’s price ranged from a high price of $94,770 on March 3 to $82,681 on March 4.
