Mt. Gox moves above $2.4 billion in Bitcoin as price breaks $100,000

Mt. Gox has transferred 24,052 BTC worth about $2.43 billion to a new wallet after Bitcoin recently surpassed $100,000.

Bitcoin has reached a historic milestone, breaking $100,000 for the first time in a significant rally. To date, Bitcoin price has surpassed $103,000, up 7% in just 24 hours.

This impressive rise in Bitcoin value coincided with a significant transfer from Mt. Gox, which transferred over 24,000 BTC to an unknown address shortly after Bitcoin broke the $100,000 mark.

Mt. Gox transfers over $2.4 billion worth of Bitcoin

At around 2:45 a.m. UTC on December 5, Mt. Gox made a significant transfer of 24,051 BTC, worth nearly $2.47 billion. The Bitcoin was sent to a new address beginning with “1N7j,” marking the first movement of funds since November 12th. The exact purpose of 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 worth $1.63 billion in 31 known wallets.

History of Mt. Gox Fund Movements

Mt. Gox has moved large amounts of Bitcoin in the past, particularly when preparing a settlement with its creditors. The last significant transfers took place on November 12, when the exchange transferred 262,782 BTC worth about $27 million to an undisclosed wallet. Additionally, Mt. Gox transferred 2.3k BTC worth approximately $238 million in another transaction.

The previous day, Mt. Gox transferred significant amounts to internal wallets, including 2.5k BTC (worth $255 million) and 27.87k BTC (worth $2.84 billion). These moves followed a large transfer in early November, when the exchange transferred over $2 billion worth of Bitcoin to three wallets in just two hours. Remarkably, these transfers took place around the final stages of the US presidential election campaign.

On November 4, Mt. Gox transferred 32,371 BTC worth around $2.19 billion to multiple wallets. The majority of the funds were sent to an unknown address, “1FG2C…Rveoy,” while smaller amounts were forwarded to two other wallets.