Bitcoin Hits $100K – And Mt. Gox Makes A $2.4 Billion Power Play

Finally, Bitcoin has barreled past the $100,000 threshold, a level predicted by many crypto analysts in the last few months.

A longtime inactive cryptocurrency exchange rode on the BTC price surge and transferred more than 24,000 coins to a new wallet.

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

Bitcoin Reaches A Milestone

Analysts said that after a long wait, Bitcoin got enough momentum to push its price beyond the $100,000 mark. This is the first time that the firstborn crypto was able to reach that level.

At 3:08 a.m. today, Bitcoin recorded $104,000, a new all-time high for the alpha crypto.

Mt. Gox transferred 24,052 $BTC ($2.43B) to a new wallet, “1N7jW,” an hour ago, right after the $BTC price broke through the $100K milestone.

However, the new wallet is likely just an internal address.

Currently, Mt. Gox still holds 15,826 $BTC ($1.63B) across 31 known wallet… pic.twitter.com/W1kyoSDEHc

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

In previous months, many market observers gave their forecast that BTC could possibly achieve a six-figure price per coin. Now, those predictions have become a reality after the cryptocurrency rode on the positive sentiment brought by the impending return of President-elect Donald Trump to the White House.

As of writing, Bitcoin is being traded at $103,152, up by 6.6% in the last 24 hours, with a total market capitalization of over $2 trillion.