Number of Irrecoverably Lost BTC Now 6 Million – Cane Island Manager – Featured Bitcoin News
The number of irretrievably lost bitcoins has now reached 6 million, leaving 13.3 million as coins that remain in circulation, Timothy Peterson of Cane Island Alternative Advisors has said. Peterson added that of the 1.7 million bitcoins that will be mined over the next 100 years or more, one million coins will be lost in the same period.
One million lost bitcoins
According to Timothy Peterson, an author and head of Cane Island Alternative Advisors, the number of irretrievably lost bitcoins has now reached 6 million. In his latest tweet on the subject, Peterson claims that of the estimated 19.3 million bitcoins mined by March 25, 2023, only 13.3 million remain in circulation, which is “probably all you’ll have access to in of life.”
I estimate that as of this week, 6 million of the 19.3 million #bitcoin extracted has been irretrievably lost. (See related research at ) This means 13.3 million remain with only 1.7 million left to be mined in the next 100+ years. At that time it is… pic.twitter.com/WpiSNT9TSF
— Timothy Peterson, CFA CAIA (@nsquaredcrypto) March 25, 2023
The author’s latest estimate of the number of bitcoins that will ever circulate appears to be in line with his 2020 prediction. As reported by Bitcoin.com News in September 2020, Peterson then claimed that the ongoing loss of an estimated 1,500 BTC per day meant that only fewer than 14 million coins will ever circulate. In their 2020 memo, researchers at Cane Island also insisted that the widely used BTC letter is inaccurate because it includes coins that are irretrievably lost.
While some bitcoiners have either questioned or dismissed Peterson’s previous claims, including Cane Island’s April 16, 2020 research note, in his March 25 tweet, the author appears to be using the same findings to support his latest prediction. In the tweet, he also predicts a loss of one million BTC over the next 100+ years.
“This means that 13.3 million remain with only 1.7 million left to be mined over the next 100 years. In that time, another million will almost certainly be lost, and old coins are lost as new coins are created .The 13 million in circulation now is probably all you’ll have access to in your lifetime,” Peterson explained in the tweet.
#Bitcoin Active supply throughout time
In The Spectacular Journey of #Bitcoin series,
today we look at Active Supply through timeHair #BTC found its equilibrium?
Check out my free, open source page for #on a chain analysis
Data is collected from my own bitcoin node. pic.twitter.com/RBeO8OgUEf
— The ₿itcoin Researcher (@ResearchBTCNow) 26 October 2022
However, in their response to Peterson’s latest tweet, a user called The Bitcoin Researcher insisted that the number of BTC in circulation is actually 15.5 million. According to their tweet, The Bitcoin Researcher based their findings on the assumption that coins that haven’t moved in the past seven years are lost.
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