Jameson Loop, who is the former lead engineer at BitGo and CasaHODL recently revealed that more than 4 million BTC is lost and 2 million BTC is stolen so far.
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As of July this year, a total of 6 million Bitcoins are left inaccessible or lost on the Bitcoin blockchain. Since it is not possible to hard fork the chain and recover the lost Bitcoins, around 28.5% of the Bitcoin’s fixed supply is permanently lost.
An estimated 4m BTC lost, 2m BTC stolen. @lopp at #BuildingOnBitcoin pic.twitter.com/xsXayfKiaP
— Willy Woo (@woonomic) July 4, 2018
The maximum supply of Bitcoins is now around 15 million as of currently, given that 17 million BTC are in total circulation – 11 million of which can be actually be used, received or traded.
According to one cryptocurrency and blockchain analytics company named Chainalysis, 3.79 million BTC are already lost on the Bitcoin blockchain. This number was released in November 2017.
At the time of releasing this, one senior economist at Chainalysis told Fortune that it is difficult to take the lost Bitcoins into consideration by the market – mostly because of the speculative nature of the cryptocurrency sector.
As he explained:
“That is a very complex question. On the one hand, direct calculations about market cap do not take lost coins into consideration. Considering how highly speculative this field is, those market cap calculations may make it into economic models of the market that impact spending activity. Yet the market has adapted to the actual demand and supply available – just look at exchange behavior. Furthermore, it is well known monetary policy procedure to lower or increase fiat reserves to impact exchange rates. So the answer is yes and no.”
Over the past couple of years, many investors said that the price of Bitcoin could reach anywhere from $100,000 to a couple of million dollars because only 21 million BTC can ever exist.
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