Bitcoin

Read

<html>
 <head></head>
 <body>
  <p class="is-style-lead">Recent data from blockchain analytics company IntoTheBlock indicates that approximately 29% of the total Bitcoin supply, which has remained stagnant for over five years, might be lost forever.</p> 
  <p>Fresh data unveiled by the blockchain analytics firm, <a href="https://twitter.com/intotheblock/status/1680834832601939968?s=20" data-type="URL" data-id="https://twitter.com/intotheblock/status/1680834832601939968?s=20" target="_blank" rel="noopener noreferrer nofollow">IntoTheBlock</a>, reveals that close to 29% of Bitcoin’s total circulating supply might be lost forever, showing no signs of movement for over five years. This highlights an inherent attribute of Bitcoin (<a href="https://crypto.news/price/bitcoin/" rel="noopener noreferrer nofollow">BTC</a>) – its scarcity – as only 21 million coins can ever be mined. However, the very feature that augments Bitcoin’s appeal to investors is a double-edged sword, leading to the risk of irreversible asset loss if private keys are mislaid or forgotten.</p> 
  <p>IntoTheBlock recently brought attention to the substantial surge in dormant Bitcoin addresses. “Our data shows that 29% of $BTC hasn’t moved in over five years. It’s possible that a large part of this concerns lost coins,” the company noted in their tweet.</p> 
  <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
   <div class="wp-block-embed__wrapper"> 
    <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
     <p lang="en" dir="ltr">📈 <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Bitcoin</a> <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$BTC</a> Amount of HODLed or Lost Coins just reached a 5-year high of 7,781,224.168 BTC<br><br>View metric:<a href="https://t.co/dJK8rxBVD3" target="_blank" rel="noopener noreferrer nofollow">https://t.co/dJK8rxBVD3</a> <a href="https://t.co/nF9KjaR2jv" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/nF9KjaR2jv</a></p>— glassnode alerts (@glassnodealerts) <a href="https://twitter.com/glassnodealerts/status/1680823505976279041?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">July 17, 2023</a> 
    </blockquote> 
    <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
   </div> 
  </figure> 
  <p>On-chain metrics monitor <a href="https://studio.glassnode.com/metrics?a=BTC&amp;m=indicators.HodledLostCoins" data-type="URL" data-id="https://studio.glassnode.com/metrics?a=BTC&amp;m=indicators.HodledLostCoins" target="_blank" rel="noopener noreferrer nofollow">Glassnode Alerts</a> added weight to these findings, indicating that the total quantity of HODLed or lost Bitcoins has reached an all-time high of 7,781,224.168 BTC. Given the current price of a single Bitcoin hovers around $30,000, this represents more than $235 billion in BTC potentially lost forever.</p> 
  <p> You might also like: <a href="https://crypto.news/bitcoin-volume-hits-yearly-high-as-old-coins-start-moving/" rel="noopener noreferrer nofollow"> Bitcoin volume hits yearly high as old coins start moving </a> </p> 
  <h2 class="wp-block-heading" id="strong-bitcoin-s-future-under-the-shadow-of-lost-assets-strong"><strong>Bitcoin’s future under the shadow of lost assets</strong></h2> 
  <p>Over the past year, institutional interest in Bitcoin has seen a significant increase, with companies such as <a href="https://crypto.news/microstrategys-michael-saylor-gives-audacious-forecast-for-bitcoin/" data-type="URL" data-id="https://crypto.news/microstrategys-michael-saylor-gives-audacious-forecast-for-bitcoin/" rel="noopener noreferrer nofollow">MicroStrategy</a> expanding their BTC portfolio. The uptick in static addresses might suggest that more individuals and entities are adopting bitcoin as a long-term investment strategy rather than for immediate trading or spending. However, it may also imply a substantial volume of Bitcoin being lost permanently, particularly by early adopters.</p> 
  <p>Considering early investors’ propensity to cash in on the enormous price increase of Bitcoin, the latter possibility appears more likely. Over the years, Bitcoin’s price has <a href="https://crypto.news/bitcoin-miners-bears-stacking-btc-usd-60k/" data-type="URL" data-id="https://crypto.news/bitcoin-miners-bears-stacking-btc-usd-60k/" rel="noopener noreferrer nofollow">skyrocketed</a>, making even modest quantities from the early days incredibly valuable now. If these investors still had access to these inactive Bitcoin addresses, it’s reasonable to assume they would have been activated by now.</p> 
  <figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
   <div class="wp-block-embed__wrapper"> <iframe title="Michael Saylor: Message to Bitcoin HODLers" width="1020" height="574" src="https://www.youtube.com/embed/9KzJ42Bo-g8?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe> 
   </div> 
  </figure> 
  <p>As BTC continues its journey towards mainstream acceptance, many individuals, drawn by the prospects, have entered the <a href="https://crypto.news/market-cap/" data-type="URL" data-id="https://crypto.news/market-cap/" rel="noopener noreferrer nofollow">cryptocurrency</a> realm without fully grasping how to properly secure their private keys. A notable example is Stefan Thomas, a San Francisco-based programmer who’s <a href="https://www.nytimes.com/2021/01/12/technology/bitcoin-passwords-wallets-fortunes.html" target="_blank" rel="noopener noreferrer nofollow">unable to access</a> his Bitcoin holdings – a hefty 7,002 Bitcoins – simply because he can’t recollect the password to his digital wallet.</p> 
  <p>With Bitcoin’s supply capped, its increasing scarcity, compounded by lost coins, could further enhance its attractiveness as a store of value. This, in turn, could potentially fuel a price increase due to growing demand and reduced supply.</p> 
  <p> Read more: <a href="https://crypto.news/bitcoin-halving-2024-a-blessing-or-a-curse/" rel="noopener noreferrer nofollow"> Bitcoin halving 2024: a blessing or a curse </a> </p>
 </body>
</html>

Nearly one-third of bitcoin’s circulating supply possibly lost: report

Table of Contents

crypto.news

Άλλα άρθρα που δημοσιεύτηκαν στις 18 Ιουλ 2023

Xangle and Republic Crypto Form Strategic Partnership to Power Korean Enterprises’ Adoption of Web3

UNI and SNX Eye Critical Zones After Recent Developments

OKX to List Lido Staked Ether ($stETH)

Chainlink Debuts CCIP Across Multiple Mainnets $LINK

US Data Expected by Bitcoin and Altcoins Now Announced!

Apple’s Vision Pro Mixed-Reality Headset: Revolutionizing the Metaverse Experience

Join our free newsletter for daily crypto updates!