Bitcoin enthusiasts assert moving Dutch gold would have been easier with digital assets

This is not the first time the valuable stock has been relocated; in November 2020, the gold bars and notes were moved from Amsterdam to Haarlem due to an office renovation in the capital.

The recent relocation of the DNB assets saw a change in strategy compared to previous moves. Instead of executing the transfer in a single evening, as done before, this time, it was spread out over four weeks.

DNB had previously announced its plan to store its stocks in the Haarlem vaults temporarily, with the intention of moving them once the construction of the new center in Zeist was finished, which according to Twitter persona, @VandelayBTC, was an entirely new highly secure facility built by the DNB with the purpose to store this gold.

Introducing alternate methods of money transfer 

The recent revelation of the DNB extensive operation to relocate its assets has sparked discussions about the efficiency and potential of digital currencies like bitcoin in money transfers. 

Social media users, including @VandelayBTC, have highlighted the capabilities of bitcoin in contrast to traditional methods.

According to estimates, if DNB had utilized bitcoin for the transfer, the entire four-week process could have been completed in just 10 minutes, with a minimal cost of approximately $3.02. This stark contrast underscores the efficiency and cost-effectiveness of digital transactions.

This release coincides with two other major announcements, the approval of the Markets in Crypto-Assets (MiCA) regulation by EU finance ministers and Amsterdam’s participation in Dutch Blockchain Day, highlighting local awareness of the potential of digital assets.

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