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Mt. Gox Bitcoin market share is more than the gold reserves of Swiss Central Bank

Mt. Gox, a Bitcoin cryptocurrency exchange, has always been a major player in the cryptocurrency space. The exchange platform is said to have played a major role in the adoption of Bitcoin [BTC] in the past. However, it soon came crumbling to the floor because of a hack, resulting in the loss of over 7% of the Bitcoins in circulation in 2014.

The popular exchange has taken the spotlight several times over the past few years. This time the exchange has taken the stage because of a minor study of Bitcoin and Gold reserves. Tuur Demeester, the Founding Partner of Adamant Capital, worked on an analysis of Bitcoin in circulating supply equivalent to Central Bank’s gold reserves.

Bitcoin circulation and Gold reserves | Source: Twitter

Bitcoin circulation and Gold reserves | Source: Twitter

He went on to say:

“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.”

This was followed by the Founder speaking about how much the…

Read Full Story : AMBCrypto

2019-02-11 21:30:43

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