›   Bitcoin Treasuries   ›   How Much Bitcoin Does Mt. Gox Own?

How Much Bitcoin Does Mt. Gox Own?

Public Companies that Own Bitcoin

Entity Country # of BTC Value Today % of 21m
Mt. Gox 200,000 200000 0.952%
Block.one 140,000 140000 0.667%
Tether Holdings LTD 53,000 53000 0.252%
The Tezos Foundation 17,500 17500 0.083%
Stone Ridge Holdings Group 10,000 10000 0.048%

How Much Bitcoin Does Mt. Gox Own?

Before the infamous Mt. Gox hack in 2014, the exchange had over 750,000 bitcoin in its custody. After declaring bankruptcy, Mark Karpelès, the owner of Mt. Gox, found a wallet that had 200,000 bitcoins.

This wallet is now in the custody of Japanese attorney Nobuaki Kobayashi, the court-appointed Mt. Gox’s trustee.

What Did Mt. Gox Do?

Mt. Gox is considered by many to be the first bitcoin exchange. It allowed users to easily buy and sell bitcoin online.

What Happens Now?

After about 10 years of litigation in Japanese courts, it looks like the creditors will soon be receiving a distribution of Mt. Gox remaining assets.

The distribution will involve receiving a portion in bitcoin, bitcoin cash, and actual cash. This could happen as soon as October of 2023. Based on bitcoin price today, around $27,000 compared to $1,000 in 2014, most creditors will receive much more than the value of their bitcoin at the time of the hack.

Many could think of this as forced hodling for the last 10 years.

Lessons Learned

The phrase ‘not your keys, not your coins’ came from the Mt. Gox hack. This lesson has had to be learned anew as other exchanges, Celsius Network, Voyager Digital, and FTX have declared bankruptcy, leaving users with little recourse but the slow wheels of justice.

The Mt. Gox hack has made the security of exchanges a priority along with regulations that require exchanges to maintain value reserves on hand to meet withdrawals. These improvements and regulations continue to evolve.

But a more important lesson is that Bitcoin is here to stay. It is bigger than any failure due to naivety or just bad actors in the industry.

A poll of the Mt. Gox creditors’ Telegram group indicated that 50% of those that replied will continue to hodl the bitcoin they receive in distribution. These early adopters of Bitcoin still believe in Bitcoin and the value it can deliver.

Total of Bitcoins Owned by Entities

Category # of BTC Value Today % of 21m
ETFs 819125 819125 3.901%
Countries 244779 244779 1.166%
Public Companies 232500 232500 1.107%
Private Companies 427381 427381 2.035%

Learn More About Other Entities Owning Bitcoin

Entity Country # of BTC Value Today
200,000 200000
2,381 2381
643,572 643572
7,112 7112
9,265 9265
53,000 53000
8,100 8100
9,000 9000
11,568 11568
8,027 8027
10,725 10725