Nearly 4 Million Bitcoins Just … Disappeared!

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According to the report from Chainalysis, a digital forensics firm that studies the bitcoin blockchain, nearly 4 million bitcoins lost forever.

Study results

New study says that a large number of bitcoins –  2.78 million to 3.79 million – are gone, that estimates as 17% to 23% of all existing bitcoins. As for the latest data the bitcoin price past $9,000 for the first time.

Fortune magazine, published an infographic that shows the results of the study.

lost-bitcoins-infographic

Source: Fortune

As we can see, the research was based on segmenting the existing bitcoin supply based on age and transaction activity. For some segments, the company used statistical sampling to determine the amount lost.

“Out of circulation” bitcoins

The bitcoins that were mined 2-7 years ago and those from the early days of bitcoin in 2009 and 2010 known as “Out of circulation” bitcoins also presumed to be lost.

data-bitcoin-lost-photo

Source: Fortune

Noteworthy, that these data related to the number of bitcoins that were actually lost but not hacked or stolen.

What’s next?

Experts predict that in the future even more bitcoins will be gone. Despite that fact, the rate of vanishing coins will fall as the owners are supposed to be more watchful as the bitcoin cost is raising.

Answering the question what was most surprising about the lost bitcoin findings, Chainalysis said:

“Firstly, we floated our findings to a few people and they all had different reactions about how surprising the figure was. But what I found most surprising/interesting was how when you unpack what it means to be “lost” things get even more confusing”, said Kim Grauer, Senior Economist at Chainalysis.

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Nearly 4 Million Bitcoins Disappeared - Researchers
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Nearly 4 Million Bitcoins Disappeared - Researchers
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According to the report from Chainalysis, a digital forensics firm that studies the bitcoin blockchain, nearly 4 million bitcoins lost forever.
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