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Hlieb Vashkevich
Hlieb Vashkevich
Startup founder | Fintech | SocialFi | Securities broker | Advisor on blockchain & real estate projects | Crypto investor since 2016 | Telegram bot development
Published Jul 24, 2024
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Bitcoin, the pioneering cryptocurrency, has captivated the world with its promise of decentralized finance and digital gold. However, a significant portion of this digital treasure is lost forever, locked away in inaccessible wallets. Understanding the scale and reasons behind these lost bitcoins provides insight into the challenges and intricacies of managing digital assets.
How Many Bitcoins Are Lost?
Estimates suggest that around 20% of all bitcoins are lost and cannot be recovered. This translates to approximately 3.7 million bitcoins (worth $266.16 billion USD as of the exchange rate on July 24 . 2024), a substantial amount given the total supply cap of 21 million bitcoins. These lost coins are effectively removed from circulation, reducing the available supply and potentially impacting the cryptocurrency's value.
Reasons for Lost Bitcoins
Impact on the Bitcoin Ecosystem
The loss of such a significant portion of bitcoins has several implications:
The story of lost bitcoins is a cautionary tale in the world of digital finance. It highlights the critical importance of safeguarding private keys and the irreversible nature of blockchain transactions. As the cryptocurrency market continues to evolve, these lessons will be vital for both new and experienced investors. Understanding the scale and reasons behind lost bitcoins not only provides a glimpse into the early days of Bitcoin but also emphasizes the need for continued innovation in digital asset management and security.
If you have any more questions about Bitcoin or other cryptocurrencies, feel free to ask!
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Vita Yusko
Front End Developer | HTML5 | CSS3 | JavaScript | React | Type Script | Redux |Responsive and Adaptive design
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how much you lost? 🤔🫣
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