Mt. Gox Extends Bitcoin Repayment Deadline to Oct 2026
Mt. Gox has secured court approval to extend its Bitcoin repayment deadline to October 31, 2026. The move follows earlier delays from the original October 2023 due date to 2025. The extension aims to resolve outstanding KYC and documentation issues and fix technical glitches like double deposits. Since July 2024, the trustee has repaid 142,000 BTC and 143,000 BCH to 19,500 creditors via Kraken and Bitstamp. On-chain data from Arkham shows about 34,000 BTC, valued at $4 billion, remain in Mt. Gox wallets. To limit market impact, repayments will be released in phased, over-the-counter transactions, reducing sell pressure and giving creditors time to complete verification. The structured approach may help stabilise Bitcoin prices as the exchange finalises its long-running bankruptcy settlement.
Neutral
The planned phased OTC releases are designed to mitigate immediate sell pressure. As a result, Bitcoin’s price impact in the short term is likely to be limited, making the news neutral for traders. Over the long term, resolving the Mt. Gox bankruptcy and returning stolen Bitcoin could bolster market confidence. However, the eventual release of 34,000 BTC may weigh on supply. Overall, the structured approach balances potential downward pressure with improved legal clarity, resulting in a neutral impact on Bitcoin prices.