About $2.8 billion in Bitcoin will stay locked up for one more year, after Mt. Gox pushed its creditor repayment deadline to October 31, 2027. For traders, the delay removes a near-term fear: that thousands of repaid coins would reach exchanges in the coming months and add selling pressure while Bitcoin trades near $81,000.
Key points:
• A Tokyo court approved moving the Mt. Gox repayment deadline from October 31, 2026 to October 31, 2027.
• Wallets linked to Mt. Gox still hold about 34,388 BTC, worth roughly $2.8 billion.
• Many creditors are still unpaid because their paperwork is incomplete or payments hit problems.
The decision came in a notice from rehabilitation trustee Nobuaki Kobayashi, dated Friday. He said base, early lump-sum and intermediate repayments are largely complete for creditors who finished the required procedures without problems. But many creditors still have not received their money because they never completed those procedures, and a considerable number ran into issues during the process, so the court agreed to give them another year.
This is now the sixth extension since 2023, and the fourth time the deadline has moved by a full year. The original target was October 2023, before it slipped to 2024, then 2025, then 2026. Mt. Gox began returning Bitcoin and Bitcoin Cash in July 2024, and by March 2025 more than 19,500 creditors had received their repayments. The latest notice did not say how many people are still waiting.
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Why it matters for traders
Mt. Gox was once the world’s biggest Bitcoin exchange before it collapsed in 2014, when about 850,000 BTC went missing. Its remaining coins are one of the market’s oldest supply overhangs: whenever the estate moves Bitcoin, traders watch for selling. Blockchain firm Arkham says the linked wallets still hold about 34,388 BTC, and there have been no transfers since June, when about 10,423 BTC moved from cold storage mostly to a new wallet — a shuffle that was not a sale and not a new repayment round.
What happens next?
In the near term, the delay is a small relief for the market: the remaining $2.8 billion will not be handed out on the old schedule, so a sudden wave of creditor selling is less likely this year. The risk has not disappeared, though — it has only moved to 2027. Traders will keep watching the Mt. Gox wallets, because any fresh transfer toward exchanges before the new deadline would quickly bring the selling-pressure question back.
Read also: Bitcoin ETFs Pull In $527 Million — Biggest Day Since September?
— Crypto News Daily News Desk
This post is news only, not financial advice. Always do your own research before buying or selling crypto.
Sources: Cointelegraph, Decrypt, CoinTurk
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