Number of forever lost BTC exceeds 4,7 million

At the same time, the issue of the first cryptocurrency is algorithmically limited to 21 million coins

30.08.2022 - 15:35

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What’s new? According to analytics platform CryptoRank, the number of forever lost bitcoins exceeded 4,7 million. Since the issue of the first cryptocurrency is algorithmically limited to 21 million coins, the loss of some assets means that the actual circulating supply will never reach a similar mark. As of August 30, 14:40 UTC, the asset is trading at $19 900, down 1,71% in 24 hours, according to cryptocurrency exchange Binance.

Number of Out of Supply Bitcoins Reaches 4.7MWhile the total supply of #Bitcoin is limited to 21M, the actual circulating supply will never reach this mark since some #BTC are out of supply.👉https://t.co/nYhYMYoYXp pic.twitter.com/N2MVK3zB6o— CryptoRank Platform (@CryptoRank_io) August 29, 2022

Lost bitcoins are those coins that are no longer accessible. This means that the holders of the asset have lost the private key to the wallet.

Other CryptoRank data. As of August 30, a total of 19 136 612 BTC have been mined, which is 91,13% of the cryptocurrency's limited supply. Bitcoin has a total market capitalization of $387,6 billion and a daily trading volume of $10 billion.

Bitcoin mining speed is gradually slowing down due to the mechanism of halving, which halves the payments to miners for a new block in the network every 4 years. The next halving is expected in 2024, the reward will be reduced to 1,5625 BTC.

In late June, British man James Howells, who accidentally threw away his hard drive with 7 500 BTC ($149,25 million at current exchange rates) in 2013, said he would buy two robot dogs from Boston Dynamics to search for him at a city landfill.

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