The number of bitcoins irretrievably lost has now reached 6 million, leaving 13.3 million as coins that remain in circulation, said Timothy Peterson of Cane Island Alternative Advisors. Peterson added that of the 1.7 million bitcoins that will be mined in the next 100 years or more, one million coins will be lost in the same period.
One million bitcoins lost
According to Timothy Peterson, author and manager of Cane Island Alternative Advisors, the number of bitcoins irretrievably lost has now reached 6 million. In his latest tweet on the subject, Peterson claims that of the 19.3 million bitcoins that had been mined by March 25, 2023, only 13.3 million remain in circulation, which is “probably all you’ll ever have access to.” his life”.
I estimate that, as of this week, 6 million of the 19.3 million #bitcoin extracted have been irretrievably lost. (See related research in https://t.co/ULso76SXjD ) This means there are 13.3 million left and only 1.7 million left to be mined over the next 100 years or more. 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 seems to match his prediction for 2020. As reported by Bitcoin.com News in September 2020, Peterson then claimed that the ongoing loss of roughly 1,500 BTC per day meant that only less than 14 million coins would circulate. In their 2020 note, the Cane Island researchers also insisted that the widely used BTC the capitalization is inaccurate because it includes coins that are irretrievably lost.
While some bitcoiners have disputed or rejected Peterson’s previous claims, including the April 16, 2020 Cane Island research note, in his March 25 tweet, the author appears to use the same findings to support his latest prediction. In the tweet, he also forecasts a million loss. BTC in the next 100+ years.
“This means there are 13.3 million left and only 1.7 million left to be extracted over the next 100 years. In that time, another million will almost certainly be lost, with old coins being lost as new coins are created. The 13 million circulating now is probably all you’ll ever have access to in your lifetime,” Peterson explained in the tweet.
#Bitcoin Active supply over time
In The Spectacular Journey of #Bitcoin series,
today we look at active supply over timeHas #BTC did you find your balance?
Check out my free and open site for #chains analysis https://t.co/yVmCtJlihh
The data is collected from my own bitcoin node. pic.twitter.com/RBeO8OgUEf
— ₿itcoin researcher (@ResearchBTCNow) October 26, 2022
However, in his response to Peterson’s latest tweet, a user named The Bitcoin Researcher insisted that the amount of BTC in circulation is in fact 15.5 million. According to his tweet, The Bitcoin Researcher has based his findings on the assumption that coins that have not moved for the past seven years are lost.
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