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Cryptocurrency exchange Mt. Gox, bankrupt since 2014, made a significant transfer of 24,051.75 BTC, valued at approximately $2.4 billion, to an unidentified wallet address. According to data from Arkham Intelligence, this is the platform’s first major transaction since November 2023.
Although it is not yet confirmed whether this transfer is related to payments to creditors, similar movements in the past preceded refunds managed through exchanges such as Bitstamp and Kraken. It should be remembered that the deadline for refunds was recently extended until October 2025, increasing uncertainty for those affected.
The move coincides with a rally in the crypto market, fueled by the recent rise of Bitcoin, which surpassed the $100,000 barrier for the first time.
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Mt. Gox, once a leader in cryptocurrency exchanges, remains emblematic of the sector’s early vulnerabilities. With thousands of creditors still waiting for the return of funds lost after the 2014 attack.
BlackRock’s iShares Bitcoin Trust Reaches $50 Billion, Breaking All-Time Records
BlackRock’s iShares Bitcoin Trust (IBIT) has surpassed $50 billion in assets under management in just 228 days. Setting a new record as the fastest ETF to reach this figure in history.
By comparison, the previous record holder, also by BlackRock with its iShares Core MSCI EAFE ETF (IEFA), took 1,329 days to achieve the same milestone, according to Eric Balchunas, senior ETF analyst at Bloomberg.
This breakneck growth reflects unprecedented institutional interest in Bitcoin, which recently surpassed $100,000 for the first time.
The approval of Bitcoin spot ETFs by the SEC in January has been key to attracting traditional investors to the crypto market. Offering an accessible and safe avenue to gain exposure to this asset class.
The impact of IBIT is so notable that it now manages more Bitcoin than gold in its exchange-traded fund portfolio. Overtaking the iShares Gold ETF, launched in 2005. This change underscores Bitcoin’s growing relevance as a store of value and strategic asset in global markets.
2024: A key year for institutional Bitcoin adoption, according to CryptoQuant
A recent analysis by CryptoQuant has highlighted that 2024 has been a “watershed year” for institutional Bitcoin adoption, driven by the approval of exchange-traded funds (ETFs). This advance has generated a significant increase in corporate investment, increasing the realized capitalization of Bitcoin by USD 300 billion.
The SEC’s approval of Bitcoin ETFs in January marked a turning point for the industry. According to CryptoQuant, since the beginning of the year, Bitcoin’s realized capitalization has gone from $430 billion to $730 billion. A growth that reflects the growing institutional confidence in this asset.
ETF issuers, led by giants like BlackRock, played a crucial role in this process. BlackRock, for example, acquired more than $1 billion worth of Bitcoin in a single week. While other issuers were purchasing five times more BTC than the global hash rate.
Altcoin season returns with a vengeance, fueled by global interest
The rise of altcoins has reignited enthusiasm in the crypto market. According to recent data from Google Trends, global searches for these cryptocurrencies have reached a score of 90, levels not seen since the historic bull market of 2021. This rally suggests renewed attention towards alternative assets amid Bitcoin’s strength , which recently surpassed the $100,000 mark.
The surge in interest coincides with notable performance by altcoins such as BNB and Tron (TRX), which have reached new all-time highs. Analysts highlight that this “altcoin season” is characterized by the superior performance of these assets compared to Bitcoin, a sign of capital rotation towards emerging projects.
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