You will lose your mind! Total Lost Bitcoin Amount Announced!
Just as it is important to hold and profit from cryptocurrencies, so is the way we store our crypto assets. If we forget the passwords of the wallets where we store our assets, we can lose our cryptocurrencies forever.
Over 7 Million Bitcoin Lost Appears!
According to a chart created by the analytics provider Glassnode, the number of long-term held or lost Bitcoins has risen to a new high in the past five months: 7,131,084. Data provided by Glassnode shows that the number of long-term held or lost Bitcoins has reached a new big peak of almost 34 percent of the BTC supply.
7 million 131 thousand 84 Bitcoins is equivalent to approximately 356 billion 554 million 200 thousand dollars at the time of writing this news. When calculated with the record price of BTC of $64 thousand, the equivalent of lost Bitcoin was around $ 456 billion 389 million 376 thousand. Sharing this chart on his Twitter page, Chinese crypto journalist Colin Wu said that this amount of crypto accounts for 33.96 percent of the BTC supply (there are 21,000,000 tokens with those that have not yet been mined).
These BTCs belong to early miners or long-term investors
Wu concluded that more than a third of the total supply of Bitcoin could be considered uncirculated, as this increases the scarcity of Bitcoin. The biggest virtue of Bitcoin, often cited by Bitcoin maximalists against gold, fiat, and altcoins, is that it has a limited supply.
However, some of these coins were kept in cold wallets by long-term holders and crypto enthusiasts who bought or mined BTC in the early days, while some lost these coins.