Bitcoin finally hit the $100,000 mark! This milestone, predicted by many analysts, was a big deal for the crypto world. But that wasn’t the only big news. The long-dormant Mt. Gox exchange also made a massive Bitcoin transfer.
Bitcoin Hits a New High
After a long wait, Bitcoin’s price finally blasted past $100,000, reaching a new all-time high of over $104,000. This is a huge moment for the cryptocurrency, fueled by positive market sentiment, possibly linked to the upcoming return of President-elect Donald Trump. At the time of writing, Bitcoin is trading around $103,152, a 6.6% increase in the last 24 hours, giving it a total market cap of over $2 trillion.
Mt. Gox Moves Billions in Bitcoin
Adding to the excitement, the defunct cryptocurrency exchange Mt. Gox moved over 24,000 Bitcoin (around $2.4 billion) to a new wallet. This happened shortly after Bitcoin broke the $100,000 barrier. While the new wallet’s address starts with “1N7j,” it’s likely an internal address within Mt. Gox. Even after this transfer, Mt. Gox still holds a significant amount of Bitcoin – around $1.6 billion worth.
Not Mt. Gox’s First Move
This wasn’t Mt. Gox’s first Bitcoin transfer this year. They’ve made several smaller moves before, leading to speculation about repayments to creditors. Remember, Mt. Gox was hit by a massive hack back in 2011, leading to its bankruptcy in 2014 and owing billions to victims. These recent transfers could be a step in the process of settling those debts.
