The post The Ghost of MT. Gox Will Stop Haunting Bitcocom. Mt. Gox, the defunct Tokyo-based cryptocurrency exchange, still holds around 34, 689 Bitcoin (BTC) ahead of its Oct. 31 repayment deadline. The exchange lost around 650, 000 BTC in thefts that went undetected from 2011 until its 2014 collapse, while about 200, 000 BTC was later found in an old-format wallet. Those coins became the foundation for creditor repayments overseen by court-appointed trustee Nobuaki Kobayashi. In 2017 and 2018, Kobayashi earned the nickname “Tokyo Whale” for selling Mt. Gox Bitcoin to fund fiat repayments. In mid-2024, wallet activity surged again as roughly 100, 000 BTC was moved between Mt. Gox addresses for distribution, though not all represented actual sales. The repayment deadline was extended by a year to give creditors more time to complete claim procedures. With about $3. 9 billion in Bitcoin still in Mt. Gox-linked wallets, this Halloween may again spark concerns about possible sell pressure. Here’s how Mt. Gox’s Bitcoin movements have moved markets throughout its bankruptcy and civil rehabilitation proceedings. Tokyo Whale’s first Mt. Gox Bitcoin sales dump Kobayashi’s first major round of Bitcoin sales took place between September 2017 and March 2018, with blockchain data indicating that the largest offloading occurred on Feb. 6. By mid-March, Mt. Gox’s Bitcoin holdings had fallen to around 166, 000, after Kobayashi disclosed the sale of 35, 841 BTC for 38 billion Japanese yen (about $360 million at the time). That may not seem like a significant supply shock in today’s Bitcoin economy. On Wednesday, Bitcoin had a $2. 24-trillion market capitalization, but back in early February 2018, that number stood at roughly $140 billion, when Kobayashi’s sales represented about 0. 26% of the asset’s total value. Related: $19B crypto market crash: Was it leverage, China tariffs or both? Kobayashi’s Feb. 6 sale also coincided with Bitcoin’s slide to around $6,000, which was the lowest point of that.