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  • Tuur Demeester, the Founding partner at Adamant Capital, calculated that the Bitcoin market share of MtGox is more than the gold reserves of the Swiss Central Bank.
  • MtGox is currently planning to execute the “Gox Rising” project to ensure that victims of the Mt. Gox hack are paid a fair share of what has become more than a billion in assets.

Tuur Demeester, the Founding partner at Adamant Capital, has calculated the Bitcoin circulating supply in equivalence of Central banks’ gold reserves and shared the following data:

Demeester explains:

“The current value of Dutch Central Bank gold is about $25 billion, so in order to buy 69k BTC (the mined Bitcoin equivalent of the Dutch gold reserve) it would only need to sell 1% of its gold, i.e. 492 gold bars.”

After that, Demeester made a pretty interesting comparison:

“Allows for fun comparisons, e.g.: The MtGox Trustee currently controls 137,891 BTC, which is bigger in terms of market share than the gold reserves of the Swiss central bank.”

As reported earlier by FXStreet, crypto billionaire Brock Pierce, plans to revive MtGox. His immediate priority is the “Gox Rising” project which seeks “to ensure that victims of the Mt. Gox hack are paid a fair share of what has become more than a billion in assets.”