BitGo moves $2 billion in Bitcoin, marking progress in Mt. Gox repayments
Summary
BitGo transferred $2 billion of Mt. Gox's Bitcoin to a new wallet, holding 33,023 Bitcoin valued at $1.96 billion. The wallet executed a test transaction and is believed to belong to BitGo, the final exchange distributing funds to Mt. Gox creditors. Market observers anticipate this could kickstart the repayment process for Mt. Gox creditors. Mt. Gox's bankruptcy in 2014 led to a decade-long process, but the trustee has started repaying creditors, distributing Bitcoin and Bitcoin Cash. This event is seen as significant for the crypto industry, potentially removing a major barrier holding BTC's price down.
