Mt. Gox Sends 24,052 BTC to New Wallet Amid $100K Bitcoin High
Defunct cryptocurrency exchange Mt. Gox moved approximately $2.43 billion worth of BTC to new exchange wallet After Bitcoin price broke through the psychological barrier of $100,000.
Specifically, the transaction included 24,052 BTC transferred to a new wallet and 3,819 BTC transferred to an internal cold wallet.
Mt. Gox transferred 24,052 BTC
According to the latest update, Mt. Gox Moved On Wednesday night, 24,052 BTC worth $2.43 billion was deposited into the new wallet. transaction occurred in Bitcoin crosses $100,000 This is the first time in history.
The unmarked wallet address “1N7jW…1u8Yp” received approximately 24,052 BTC from other cold wallet storage on the Mt.Gox exchange. This is the exchange’s first large transfer since November 12.
It’s unclear whether the transfer is part of the defunct exchange’s future distributions to creditors. Spotonchain speculates that the new wallet is likely an internal address. On-chain analysis tools indicate that Mt.Gox still holds 15,826 BTC in 31 known wallet addresses, worth approximately $1.63 billion.
“MT. An hour ago, Gox transferred 24,052 BTC ($2.43 billion) to a new wallet “1N7jW”; just after BTC price crossed the $100,000 milestone. However, the new wallet is most likely just an internal address,” Spotonchain explain.
However, trades of this magnitude tend to shake up markets. Specifically, such flows are often preceded by repayments through centralized exchanges.
recentafter repaying some creditThors, Mt. Gox delays repayment deadline One year later to October 31, 2025. Meanwhile, Mt. Gox’s remaining creditors are waiting for repayment in BTC.
“Wow, $2.4 billion is a lot of money, and I’d love to see where it ends up. Hopefully this isn’t another wild ride for everyone involved.” explain VinTheApe, trader and analyst.
Bitcoin’s breakthrough to the $100,000 mark was driven by several factors. including the chairman of the Federal Reserve Jerome Powell’s claim At the New York Times DealBook Summit in Manhattan, BTC was compared to gold.
Secondly, appoint Paul Atkins As the new SEC (Securities and Exchange Commission) Chairman Gary Gensler face About to exit. Finally, the Russian President Vladimir Putin acknowledges Bitcoin As the country makes progress on cryptocurrency reform.
Taken together, these developments demonstrate that financial institutions and government agencies are recognizing the potential of digital assets and their importance in transforming national economies. At the time of writing, BTC is trading at $103,403, up 7.6% since Thursday’s open, according to data from BeInCrypto.
Bitcoin veteran Kyle Chasse believes that Bitcoin’s breakthrough of $100,000 may stimulate retail investors’ FOMO (fear of missing out) buying behavior. Such an outcome could send Bitcoin higher.
“The retail industry is going to face $100,000 in losses and the FOMO is going to be very severe,” he explain.
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