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The latest data shows that approximately 17.6% of Bitcoin has permanently disappeared from circulation. This astonishing fact compels us to reevaluate the actual supply situation of Bitcoin.
Although the total supply cap of Bitcoin is widely recognized as 21 million coins, considering the Bitcoin that has already been lost, the current actual circulating supply of Bitcoin may be only around 18 million coins at most. This means that the actual scarcity of Bitcoin may be higher than we previously thought.
A decrease in supply coupled with an increase in demand can significantly impact the price of Bitcoin due to this supply-demand imbalance. From an economic perspective, an increase in scarcity typically drives asset prices up. Therefore, this finding could be another potential factor contributing to the rise in Bitcoin prices.
However, we should also note that the cryptocurrency market is influenced by various factors, including the regulatory environment, technological developments, market sentiment, and more. Investors should take these factors into account comprehensively when making decisions, rather than relying solely on the supply as a single indicator.
Overall, this data provides us with a new perspective on the actual circulation of Bitcoin, helping us to better understand the market dynamics of this digital asset.