Nearly eleven years after one of crypto’s darkest moments, the Mt. Gox saga may finally reach its conclusion. The trustee overseeing the long-running bankruptcy has until October 31, 2025, to finalize all remaining Bitcoin and cash repayments, a milestone that could see as much as 34,689 BTC, worth roughly $3.7 billion, redistributed to creditors.
The Tokyo District Court granted an extension last year after logistical and administrative delays slowed progress. Most verified claimants have since received partial repayments, either in cash or through partner exchanges such as Bitstamp and Kraken. Those who opted for Bitcoin transfers are now awaiting the final settlements that could close one of the industry’s longest-standing insolvencies.
From the original 142,000 BTC pool, around 107,000 BTC has already been paid out. Blockchain tracking shows about 59,000 BTC landing on exchanges, while 33,000 BTC remain in BitGo custody. That leaves roughly 35,000 BTC still to be processed, though it’s uncertain how much will actually reach open markets.
Analysts say even in a “worst-case” scenario where 60% of the remaining coins are sold, the market impact would be minimal. The resulting 22,000 BTC influx, valued near $2.4 billion, is considered small relative to Bitcoin’s current trading volume and liquidity.
Observers outline three potential distribution paths: gradual exchange rollouts spread over several weeks, private OTC deals that never hit public order books, or brief bursts of inflows that temporarily lift spot trading volumes before stabilizing.
Historical data supports a controlled approach. When 47,000 BTC were moved in July 2024, markets barely reacted, a sharp contrast to the volatility sparked that same month by the yen carry trade unwind.
If all goes according to plan, the Mt. Gox repayments will mark the end of a decade-long recovery process, finally closing the books on one of Bitcoin’s earliest and most consequential crises.
