Everything what has advantages, has been known to have disadvantages, so it is with Bitcoin. Here, above all, the irreversibility of transactions is meant. This ensures that no third party transactions can be undone, but in the case of an error, not a self. Although you can track through the transparency of the Bitcoin Blockchain exactly how long BTCs have not been transferred, but a detailed statement as to how many Coins are lost for ever, is often difficult.
The Blockchain analysis company “Chainalysis” has taken on this problem, and shows in a new report, how many Bitcoin are in fact, already been lost. The Numbers are frightening: about 35.000.000.000 (35 billion USD) of BTC will be lost. Also the question of whether Bitcoin is actually a digital Gold approaches the Report. We summarize for you.
3.700.00 million Bitcoin lost
The statements in this article refer to the Report of the company Chainalysis with the name “60% of Bitcoin will be in the long term, kept as a digital Gold. What about the Rest?“ In this report, the analysis company is exactly how many tokens will be used and for what purpose, and answers the often asked questions how many BTC over the years due to lost Private Keys are no longer accessible how it looks with the Narrative of the “digital gold”.
First of all, first of all: June 2020, up 18.6 of the 21 million bitcoins are already mined. This leaves 2.4 million BTC to be until 2140 is still mined.
The analysis of Chainalysis resulted in the following distribution of 18.6 million already mined Bitcoin:
Investment: 11.4 million BTCVerloren: 3.7 million BTCTrading: 3.5 million BTC
Chainalysis counts all the Coins in the category “Lost”, and not longer than 5 years is moving. Under this assumption, almost 20% of all up to the present day mined Bitcoin are, in other words lost forever. This corresponds to the incredible sum of 35.000.000.000 (35 billion) USD to BTC.
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BTC-Narrative of the digital gold confirmed
So it is a waste of this enormous sum is so good it’s probably Vice versa, too long-term for the Bitcoin exchange rate. Because: the less BTCs and sold can be moved, the less selling pressure may occur in the same demand.
An equally interesting finding is that the so-often-used Narrative of the digital gold has, according to the report of Chainalysis actually his permission. The nearly 60% of all Bitcoin, so about 105 billion USD, close to the of the a category (long-term) attributable to the Investment set.
According to Chainalysis all the Bitcoin in this category, which include:
of people or companies, which have never sold more than 25% of the Bitcoin that you have ever received, and keep this Bitcoin, often over many years (…)
The fact that the vast majority of Bitcoin shows over a longer period of time to be kept, as most of the people in Bitcoin to invest with a long-term investment horizon.
In a critical way, one must admit here that most of these investors see Bitcoin at the moment, perhaps rather less as a Store of Value, but as an object of speculation with a good risk-reward ratio.
Another point of criticism of the analysis would be that here the category “payment” is neglected, which reflects the people paying with BTC for Goods and services. This applies to all probability likely to be the Least, would have to be for the sake of completeness but be taken into account, as BTC was invented as a “Peer-to-Peer Electronic Cash System”.
Nevertheless, News of the Reports of Chainalysis extremely bullish, as both the 3.7 million Bitcoin that are probably lost, as well as the 11.4 million BTC, which will be maintained in the long term, take liquidity from the market, i.e. reduce, the quickly-negotiable offer. In the case of a constant or rising demand, the Bitcoin exchange rate would have to increase so in theory.
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