New research from a digital asset management firm estimates the amount of BTC governments have to accumulate if Bitcoin were to replace the current gold reserves.


‘Governments Have Some Accumulating to Do’

Digital asset management firm Blocktown Capital has estimated the amount of BTC governments would have to accumulate if Bitcoin were to replace the current gold reserves.

Per their research, the allocation is as it follows:

  • USA: 913,388 BTC
  • Germani: 378,416 BTC
  • Russia: 232,033 BTC
  • China: 206,923 BTC
  • Japan: 85,931 BTC
  • UK: 34,846 BTC

“Governments have some accumulating to do…” – Concludes the post.

The comparison between Bitcoin and gold has been a somewhat popular narrative, as many proponents seem to believe that the digital currency is suitable of becoming an alternative to the precious metal.

Recently, Bitcoinist reported that a world-renowned economic historian, Niall Ferguson, who was previously skeptical on Bitcoin, has said that “Bitcoin is a bit like an option on digital gold.”

And while there are…

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Source: https://thebitcoinnews.com/heres-how-much-bitcoin-countries-need-to-replace-their-gold-reserves/