Mt. Gox, the defunct crypto exchange, transferred 24,052 BTC worth $2.43 billion to a new wallet after Bitcoin surpassed $100,000 for the first time. The transfer is speculated to be an internal move, and it remains uncertain if it is related to future distributions to creditors. This significant transaction comes amid Mt. Gox's postponement of its repayment deadline to 2025, while the remaining creditors await their BTC repayments.
Bitcoin's surge past $100,000 is attributed to various factors, including statements by Federal Reserve chair Jerome Powell, the appointment of a new SEC chair, and recognition of BTC by Russian President Vladimir Putin. The price of BTC is currently at $103,403, representing a 7.6% increase since the Thursday session opened. There are predictions that the milestone of $100,000 could trigger FOMO buying among retail, potentially driving BTC even higher.
Mt. Gox, the defunct crypto exchange, moved BTC valued at around $2.43 billion to a new wallet after the Bitcoin price broke through the psychological $100,000 level. Specifically, this transaction includes 24,052 BTC shifted into a new wallet and 3,819 BTC to an internal cold wallet. It remains unclear whether this transfer is part of the defunct exchange's future distributions to creditors. Spotonchain speculates that the new wallet is likely an internal address. The on-chain analytics tool notes that Mt. Gox currently still holds 15,826 BTC, worth approximately $1.63 billion across 31 known wallet addresses.
Such movements often precede repayments via centralized exchanges. Recently, after repaying some creditors, Mt. Gox postponed its repayment deadline by a year to October 31, 2025. Meanwhile, the remaining Mt. Gox creditors await their BTC repayments. Bitcoin's foray past the $100,000 milestone draws tailwinds from several factors. Among them are Federal Reserve chair Jerome Powell's assertions at the New York Times DealBook Summit in Manhattan, comparing BTC to gold. Secondly, the appointment of Paul Atkins as the new SEC chair as Gary Gensler faces imminent exit. Finally, Russian President Vladimir Putin acknowledged BTC as the country faces advances in its crypto reforms.
Based on BeInCrypto data, BTC is trading for $103,403 as of this writing, representing a 7.6% surge since the Thursday session opened. Kyle Chasse, a Bitcoin veteran, sees Bitcoin's foray past $100,000 could inspire FOMO buying among retail. Such an outcome could send BTC higher.