1,500 Bitcoins lost every day, less than 14 million coins will ever circulate

A cryptocurrency analyst, Timothy Peterson claims that 1,500 bitcoins are lost each day meaning only 14 million BTC will ever circulate. The figure is at odds with the estimate of many organizations including Markets.bitcoin.com which place the figure at 18.5 million coins.

Peterson, who is the CAIA Manager at Cane Island Alternative Advisors, argues the merits of his assertions by pointing to how this average daily loss dwarfs the 900 bitcoins that are mined every day.

Furthermore, to support his contention, Peterson points to a research note published by his organization earlier in the year. In the five paged document, the term “irretrievably lost” is introduced to the bitcoin lexicon.

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News source: News18 

Update by Jayashree