A recent report from The New York Times has brought startling news to the forefront: Tens of billions worth of Bitcoin are locked away, with individuals unable to access their funds due to forgotten keys. According to cryptocurrency data firm Chainalysis, approximately 20 percent of the existing 18.5 million Bitcoin, valued at around $140 billion, seem to be stranded in lost wallets.
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FAQs
$121 billion
These 1.8 million “lost” coins account for around 8.5% of the total supply of 21 million—93% of which have already been mined—that will ever exist. In most cases, it's impossible to know for sure what became of a given wallet, but it's a safe bet many are indeed gone forever.
What is the largest lost Bitcoin wallet? ›
The Top 5 Biggest Lost Bitcoin Wallets
- Satoshi Nakamoto's Wallet.
- Unknown MtGox Wallet.
- Stefan Thomas and the Lost Password.
- The Buried Treasure of James Howells.
- The 'Disappearance' of Gerald Cotten.
- Individual X Marks the Spot; The 69,000 Bitcoin Challenge.
- How Much Bitcoin is Lost Forever?
By John Hyatt, Forbes Staff
That's helped make at least 17 people crypto billionaires, according to Forbes' 2024 World's Billionaires list, up from nine crypto billionaires last year.
How many people have lost access to their Bitcoin? ›
One major reason: they've lost access to their account. In fact, more than $100 billion in Bitcoin is estimated to be lost – but some is recoverable, says at least one firm. A 2020 report from Chainalysis, a forensics company, estimated that about 3.7 million bitcoins have been lost.
What percentage of Bitcoin owners have lost money? ›
"Overall, back of the envelope calculations suggest that around three-quarters of users have lost money on their bitcoin investments," they said in their study.
What happens if too much Bitcoin is lost? ›
Bitcoin is infinitely divisible, so lost bitcoin does not harm the network as a whole. Furthermore, because Bitcoin derives value from its absolutely finite supply, every lost bitcoin will slightly increase the value of the remaining bitcoin in the network.
Who owns the most Bitcoin wallet? ›
Key Takeaways
Who owns the most Bitcoin in the world? The top Bitcoin holder is still believed to be Satoshi Nakamoto, the anonymous creator of Bitcoin, who reportedly holds around 1.1 million BTC across many wallets.
Who owns the most Bitcoin? ›
Satoshi Nakamoto, the pseudonymous creator of Bitcoin, is believed to own the most bitcoins, with estimates suggesting over 1 million BTC mined in the early days of the network.
What is Satoshi Nakamoto's net worth? ›
Nakamoto owns between 750,000 and 1,100,000 Bitcoin. In November 2021, when Bitcoin reached a value of over $68,000, his net worth would have been up to $73 billion, making him the 15th-richest person in the world at the time.
Does Warren Buffett own Bitcoin? ›
Perhaps the most famous value investor of all time, Warren Buffett is strongly against Bitcoin and other cryptocurrencies, saying, "You can't value Bitcoin because it's not a value-producing asset." Buffett and his holding company Berkshire Hathaway Inc. have been well-known for their investments in stable and ...
That investment would be worth $6,859,178,076.22 today based on the same price of $28,122.63 at the time of writing. While investing in Bitcoin today may never be worth billions of dollars in the future, the hypothetical investment illustrates the large increase in value of the leading cryptocurrency over time.
How many bitcoins does Elon Musk have? ›
The co-founder of Tesla Inc. revealed on Twitter that he owns only a tiny fraction of one bitcoin token. "I literally own zero cryptocurrency, apart from . 25 BTC that a friend sent me many years ago," Musk confessed.
Who lost the password for 7000 Bitcoin? ›
They Cracked the Code to a Locked USB Drive Worth $235 Million in Bitcoin. Then It Got Weird. Stefan Thomas lost the password to an encrypted USB drive holding 7,002 bitcoins. One team of hackers believes they can unlock it—if they can get Thomas to let them.
What is a dead wallet? ›
Dead wallet means the private key to it is likely lost so nobody has access to it. Though there's always a chance someone actually still has it, so you can never say with certainty that a wallet is dead.
What are the fake Bitcoin companies? ›
Key Consumer links
| Primary Subject | Scam Type |
|---|
| good-bookingline.com | Fraudulent Trading Platform Advance Fee Scam |
| bitcoinfied.com | Fraudulent Trading Platform Advance Fee Scam |
| Bakktunt.com Bakktexe.com (Entity Impersonating Bakkt) | Pig Butchering Scam Fraudulent Trading Platform Advance Fee Scam Imposter Scam |
28 more rowsApr 30, 2024
The believers who rode bitcoin to an all-time high—and the ones who missed out. Joe Oathout lost $500,000 on bitcoin, but he didn't lose faith. Few would have the stomach to hold on after watching a $20,000 investment soar halfway to $1 million in 2021 only to have nearly all of it evaporate.
How many people own 1 Bitcoin? ›
However, some estimates can be made based on blockchain data and surveys of Bitcoin holders. According to data from Bitinfocharts, as of March 2023, there are approximately 827,000 addresses that hold 1 bitcoin or more, representing around 4.5% of all addresses on the Bitcoin network.
Does Bitcoin have a future? ›
Bitcoin the Cryptocurrency
In 2024, the majority of Bitcoins are still out in the wild, so to speak. But, these large entities will likely keep growing their holdings over time—and if they continue to be treated as a speculative investment and store of value.
