I've done some rough calculations of the BTC we 'may' be getting back if successful in the federal court case.
I asked the company but they wouldn't tell me so figure I can work it out approx anyway.
DCC lost 351 BTC according to their announcements around Aug 2014.
Mt Gox lost / had stolen some 750k BTC in Feb 2014 also 100k BTC lost / stolen from Mt Gox ownership. total 850k BTC lost / stolen. THEN 200k BTC were recovered and receivership taking place. DCC entitled to some of these.....
850k / 200k = 4.25 (23.5% recovered).
If DCC lost 351 BTC and 23.5% were recovered that is circa 82.50 BTC recovered. after lawyer costs and fees etc....hard to say what is left.
some folk on Reddit claim to have been advised they are getting back around 21% from creditors so assuming DCC would be in the same boat, that's 351 x 21% = 73.7 BTC to be returned.
$104,622 (current price aud) x 73.7 BTC = $7,710,641 worth of BTC on the line in this case for us, at todays price, before the bull run gets going....
At current share price I don't believe this is factored in at all.
it's disappointing that DCC lost such a large amount of BTC back then, would've been extremely healthy on the balance sheet the last few years. at least some should come back.
they (DCC) better have some good representation in this case as it's becoming a very expensive bag of BTC on the line.
GLTA
DCC Price at posting:
8.0¢ Sentiment: Buy Disclosure: Held
