Mt. Gox has moved 24,052 BTC, worth approximately $2.43 billion, to a new wallet following Bitcoin’s recent surge above the $100,000 mark.
Bitcoin has reached a historic milestone, breaking the $100,000 threshold for the first time in a significant rally. As of today, Bitcoin’s price has exceeded $103,000, marking a 7% increase within just 24 hours.
This impressive rise in Bitcoin’s value coincided with a substantial transfer from Mt. Gox, which moved over 24,000 BTC to an undisclosed address shortly after Bitcoin breached the $100,000 mark.
Mt. Gox Moves Over $2.4 Billion in Bitcoin
At around 2:45 AM UTC on December 5, Mt. Gox executed a significant transfer of 24,051 BTC, valued at nearly $2.47 billion. The Bitcoin was sent to a new address starting with “1N7j,” marking the first movement of funds since November 12. The exact purpose behind this transfer remains unclear.
Blockchain analytics platform Spot On Chain speculates that the new address could be an internal wallet. According to the smart money tracker, Mt. Gox still holds 15,826 BTC, valued at $1.63 billion, across 31 known wallets.
History of Mt. Gox Fund Movements
Mt. Gox has a history of moving large quantities of Bitcoin, particularly when preparing to settle with its creditors. The last significant transfers occurred on November 12, when the exchange moved 262.782 BTC, valued at approximately $27 million, to an undisclosed wallet. Additionally, Mt. Gox transferred 2.3K BTC, worth about $238 million, in another transaction.
The previous day, Mt. Gox moved substantial amounts to internal wallets, including 2.5K BTC (valued at $255 million) and 27.87K BTC (worth $2.84 billion). These actions followed a major transfer in early November when the exchange moved over $2 billion in Bitcoin to three wallets in just two hours. Notably, these transfers took place around the time of the final stages of the U.S. presidential election campaign.
On November 4, Mt. Gox moved 32,371 BTC, valued at roughly $2.19 billion, to multiple wallets. The majority of the funds were sent to an unknown address, ‘1FG2C…Rveoy,’ with smaller amounts directed to two other wallets.
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