“Clearly this should only become a major concern for the gold market if countries with much larger holdings were forced to sell,” said Mr. Jessop.
“However, among the other troubled euro zone members, only Italy and Portugal hold significant amounts.”
Italy, for example, holds almost 2,500 tonnes.
Wiklevoss twins hold Bitcoins
The Winklevii, the famous twins who took on Facebook’s Mark Zuckerberg, have bought into the Bitcoin craze.
Cameron and Tyler Winklevoss say they now hold some $11-million (U.S.) of the digital currency, or about 1 per cent of the total amount, The New York Times reports today.
“People really don’t want to take it seriously,” Cameron Winklevoss said, according to the publication. “At some point that narrative will shift to ‘virtual currencies are here to stay.’ We’re in the early days.”
The Winklevii, as the tall twins are called, certainly have the money for the gamble. After suing Mr. Zuckerberg from their Harvard days, they got Facebook stock that The New York Times says is now worth more than $200-million, along with $20-million in cash.
Nowhere near what Mr. Zuckerberg is worth, of course, but enough to start up an investment firm.
According to the twins, they bought low. But rather than sell high – like yesterday before the value of a Bitcoin plunged from $266 – they’ve held on.
The main exchange for the virtual money closed today to allow everything to cool off after yesterday’s price plunge.
Bitcoin is a confusing thing, and many are struggling to make sense of it.
You can do some things with it, you can buy it and sell it, but it becoming a full-scale currency is still a dream.
As one currency chap put it to me yesterday, amid the drop, “it could well be the time when the tulip which bought a castle becomes the tulip you eat the next day, or it may just be the first sizeable correction as some were trying to cash in.”
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