Assets, Bitcoin

How Many Bitcoin Does Mt. Gox Have?

Mt. Gox, once the world’s largest bitcoin exchange, has been gradually selling off its bitcoin holdings since it filed for bankruptcy in February 2014.

The Tokyo-based company has so far sold about 35,841 bitcoins, worth around $273 million at current prices, according to a report from Japanese news outlet Nikkei. That leaves Mt.

Gox with roughly 166,000 bitcoins, or $1.3 billion worth, still to sell.

Mt. Gox was once responsible for handling around 80 percent of all bitcoin trades globally.

But the exchange suffered a devastating hack in 2014, losing 850,000 bitcoins belonging to its customers and 100,000 of its own.

The company’s bankruptcy trustee has been selling off the remaining bitcoins to reimburse Mt. Gox’s creditors.

The sales have been conducted gradually and discreetly, so as not to destabilize the market price of bitcoin.

The latest tranche of sales was conducted last week, when about 2,000 bitcoins were sold off-market at a price of $8,100 each. That sale brought in around $16 million, which will be used to reimburse creditors.

At the current rate of sales, it will take Mt. Gox several years to sell off all its remaining bitcoins.

The trustee has said that any leftover funds will be donated to charity.

So far, Mt. Gox’s creditors have recovered around 65 percent of the value of their lost bitcoins.

They are expected to receive another payout later this year, after the final tranche of bitcoins is sold off.

Previous ArticleNext Article