Monday, 21 September 2020

4 Million Bitcoins Could be Lost Forever

Almost $38 billion worth of Bitcoin found untouched for over 5 years. So almost 4,000,000 bitcoins have not moved from their addresses for at least 5 years.

It is possible that these bitcoins are lost forever due to people just being careless and forgetful, losing private keys, misplacing hardware wallets etc. Not updating your Bitcoin wallet or making a transaction for more than 5 years is highly unlikely in this constantly evolving world of crypto.

That is nearly 20% of the total Bitcoin supply out of a maximum of 21 million bitcoins. Bitcoin could therefore be even more scarce than we have previously thought.

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