Mt. Gox Transmits Large Bitcoin Sum to Kraken Following Massive Transfer

Following a substantial transfer of 10,423 BTC worth $954 million earlier today, bankrupt cryptocurrency exchange Mt. Gox transferred an additional 185.2 BTC to the Kraken exchange on Tuesday. This transfer was valued at $16.8 million. Analysts suggest this recent activity may be part of a larger distribution strategy involving smaller batches of Bitcoin to various exchanges. However, these moves by Mt. Gox have fueled market speculation about further price declines in the crypto market.