Bitcoin Reaches $100,000 as Mount Gox 'Stirs'…$2.8 Billion Involved

Uk Jin

Summary

As Bitcoin surpassed $100,000, it was reported that funds moved from Mount Gox.
Mount Gox transferred a total of $2.8 billion worth of Bitcoin to two addresses.
While some are concerned about the potential sale of 24,000 Bitcoins, analysts expect only 3,819 to be sold.

As Bitcoin (BTC) reached $100,000, funds have moved from the wallet of the bankrupt cryptocurrency exchange Mount Gox.

According to on-chain analyst AmberCN on the 5th, Mount Gox transferred 3,819 Bitcoins (approximately $390 million) to an address starting with '1Jbez' and 24,051 Bitcoins ($2.43 billion) to an address starting with '1NjW'.

AmberCN analyzed, "Some are concerned that 24,000 Bitcoins could be released into the market all at once as sell orders, but based on previous Mount Gox sell patterns, it seems only the 3,819 Bitcoins transferred to the '1Jbez' address will be sold. In the past, Bitcoins that Mount Gox intended to sell were first sent to the '1Jbez' address. The '1N7jW' address is likely a new wallet address for Mount Gox."

Meanwhile, as of 1:54 PM today, Bitcoin is trading at $103,287 on Binance, up 7.70% from the previous day.

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