Finally, Bitcoin has done it crossed the $100,000 mark threshold, a level predicted by many cryptocurrency analysts over the past few months.

A long-dormant cryptocurrency exchange followed the BTC price surge and transferred over 24,000 coins to a recent wallet.

Bitcoin breaks past the $100k level. Source: Coingecko

Bitcoin reaches a milestone

Analysts say that after a long wait, Bitcoin has gained enough momentum to push its price above the $100,000 level. This is the first time that an original cryptocurrency has been able to reach this level.

Today at 3:08 a.m. Bitcoin hit $104,000, which is a recent all-time high for the alpha cryptocurrency.

Mt. Gox donated 24,052 $BTC ($2.43 billion) to the recent wallet “1N7jW” an hour ago, right after $BTC the price has crossed the 100,000 milestone. dollars.

However, the recent wallet is probably just an internal address.

There are currently still 15,826 on Gox Mountain $BTC ($1.63 billion) in 31 known wallets… pic.twitter.com/W1kyoSDEHc

— Spot On Chain (@spotonchain) December 5, 2024

In the past months, many market watchers have given predictions that BTC could possibly reach a six-figure price per coin. Now, those predictions have become a reality after the cryptocurrency followed the positive sentiment generated by President-elect Donald Trump’s impending return to the White House.

At the time of writing, Bitcoin is trading at $103,152, up 6.6% in the last 24 hours, and has a total market capitalization of over $2 trillion.

Moving to a recent wallet

A crypto intelligence website has revealed that the long-defunct cryptocurrency exchange platform has decided to move over 24,000 BTC to a recent location.

Dormant crypto platform Mt.Gox transferred 27,871 BTC to an undisclosed address, which some analysts believe was due to the digital currency hitting the $100,000 milestone.

Arkham Intelligence said Mt.Gox moved a huge portion of its Bitcoin holdings worth over $2.8 billion.

Reports revealed that the now-defunct cryptocurrency exchange made the transfer on December 5, moving its BTC to a recent wallet that was not previously associated with any Mt.Gox Bitcoin transfers in the past.

According to analysts, the wallet address starts with “1N7j” and a BTC transfer fee of $3.78 was charged.

Some cryptocurrency analysts believed that the recent address could be an internal wallet.

According to Arkham Intelligence, after the latest move, Mt.Gox still holds 39,878 Bitcoins worth approximately $4.1 billion data.

Source: Arkham Intelligence

BTC transfer, not for the first time

The now-defunct exchange had been dormant since November 12, before the mass move.

Prior to this BTC transfer on November 12, Mt.Gox transferred approximately 262,782 BTC worth $27 million to an unknown wallet. In another transaction, the crypto platform also transferred over 2,000 Bitcoins worth $238 million.

Since Mt.Gox began mass BTC transfers this year, many people have been speculating about ongoing repayments to creditors.

The cryptocurrency exchange suffered a massive hack in 2011, leading to its bankruptcy in 2014, and it owes more than $23 billion to victims and creditors.

Featured image from Pexels, chart from TradingView