Crypto: Mt. Gox ready to release another $2 billion in bitcoin?

The patience of Mt. Gox customers has finally paid off. Since early July, the crypto exchange, which went bankrupt in 2014, has begun paying back its creditors. The process is happening in stages, sowing sudden movements in the market. Now, it’s a new test transaction of $2 billion in bitcoin that raises questions: Are the funds ready to be released?

Mt. Gox signs $2 billion crypto test transfer

Things are picking up speed after news broke that Mt. Gox is finally paying off its creditors after a ten-year wait in early July. A crypto wallet that received No Less Than $2 Billion in Bitcoin From Mt. Gox Asset Manager recently initiated a test transaction.

This movement, spotted by Arkham Intelligence analystssuggests that Distribution of funds to creditors could be imminent.

According to these analysts, this portfolio belongs probably to the BitGo custody platformone of the five partners responsible for the distribution of the tokens.

As a reminder, a previous transaction of 33,100 BTCor 2.2 billion dollars, had already taken place two weeks ago.

Mt. Gox Creditors on Alert

Mt. Gox creditors, who have been waiting for their dues for nearly a decade, are keeping a close eye on things. On Reddit, Some users have reported receiving funds into their BitGo accountsalthough these claims have not yet been verified.

The crypto community fears that These massive refunds do not trigger a massive sale of bitcoinscausing prices to fall.

” This test transaction could well be a sign that distribution will begin shortly. “, Arkham analysts said in a Telegram message.

But the wait remains, as BitGo has still not officially confirmed these moves.

Mt. Gox’s crypto transfers have not gone unnoticed: in mid-July, Bitcoin sank to $63,000 after moving around $2.8 billion. As for the current price of BTC, it is trading at $59,555, showing a 1.3% drop over 24 hours.