Mt. Gox, now defunct, transferred Bitcoin valued at $2.43 billion to a new wallet after BTC prices crossed the $100,000 threshold. The transaction involved moving 24,052 BTC to an unmarked address and 3,819 BTC to an internal cold wallet.
This transaction follows Bitcoin’s historic price surge and speculations about its implications on Mt. Gox's future distributions to creditors. On-chain analytics suggest the new wallet may be an internal address.
Market reactions to such significant transfers often precede repayments through centralized exchanges. Mt. Gox, having postponed creditor repayments to 2025, still holds large BTC reserves.
Bitcoin's price surge past $100,000 is influenced by numerous financial developments, including Federal Reserve Chair Jerome Powell's comments and Vladimir Putin's acknowledgment of Bitcoin in Russia’s crypto reforms.
Bitcoin's price at $103,403 reflects its potential to attract retail investors, possibly triggering FOMO-driven buying and further price increases, according to Bitcoin veteran Kyle Chasse.
