In a number that may sound like a lot to some, Peterson, an executive at Cane Island Alternative Advisors (CAIA), argues that his numbers are correct and that 1,500 bitcoins are lost daily.

To back up his claims, Peterson points to a research note his company published earlier in the year.

in research paper Coming to five pages, the term “irreversible loss” has been introduced into the Bitcoin Dictionary.

The research note explains that bitcoins lost irretrievably represent funds that have been lost, and are no longer part of an economy anywhere.

The document adds that such coins cannot be traded and that the cost of redeeming them exceeds the value obtained.

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As is known in blockchain transactions, any transaction that takes place cannot be undone.

There are many cases of individuals losing their private keys and thus permanently losing access to their funds.

Earlier last week we reported on Arab Bitcoin about how a group of hackers are trying to hack a wallet containing 69,370 Bitcoin.

Accordingly, in light of the published numbers of many lost wallets, the number of lost bitcoins was estimated at 1,500 bitcoins per day by the team “Cane Island Alternative Advisors”, where their statement came as follows:

Since 2010, about 4% of the bitcoin supply has been lost each year.

This puts the current available supply at around 13.9 million bitcoins.

Which is well below the current available supply figure of 18.3 million announced.

This means that about 28% of all bitcoins are lost irreversibly.

Every day about 900 new # bitcoin Worth $9,000,000. Every day around 1,500 bitcoins worth $15,000,000 are lost forever. The supply is shrinking and not growing. See “There will never be more than 14 million bitcoins”

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– Timothy Peterson (@nsquaredcrypto) September 14, 2020

The team at Cane Island Alternative Advisors also referred to previous studies on the same topic, referring to the study by Ratliff in 2014 and Chainalysis in 2017.

But some of Peterson’s followers on Twitter indicated that the figure of 1,500 bitcoins was too high, and Peterson responded by saying:

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According to the Chainalysis report, if you do the math according to their numbers, 1,900 bitcoins have been lost on a daily basis since December 2017.

But my numbers are more conservative.

The research note does not provide links to the relevant Chainalysis report.

Another Twitter user asks about the search results and if 1,500 bitcoins are lost daily, it means that after 30 years all existing bitcoins (21 million bitcoins) will be lost.

While some argue that Peterson’s claims are exaggerated, there is consensus that the actual number of circulating supply is well below the often reported 18.5 million.

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