How Many Bitcoin Exist There | Bitcoins has been a golden star among the all crypto-currency communities. People want to know about the actual story behind it. Questions like “how many bitcoins are there” continuously hitting the minds of this generation.
Whenever we went through the streets of the bitcoin communities we experienced the discussion over the topic. People always discuss Like how many bitcoin are there or how many bitcoins exist.
Therefore we thought, let’s give a try to find out the solution on the topic “How Many Bitcoin Exist”. There. Consequently this article came out.
How Many Bitcoins are There?
In simple words Total number of bitcoin means, total no of bitcoins trading today+ total number of bitcoins yet to be mined.
But unfortunately this is not correct. Nobody knows the accurate figure of existing bitcoins. However through various sources there are some figures available.
As per the bitcoin protocol, total market cap of the bitcoin is 21 Millions, but not fully mined.
Total mined bitcoines are- 17.8 million (it is said that, almost 4 millions bitcoines out of 17.8 million bitcoines has been lost and not in circulation today)
Almost 3.2 million bitcoines are not mined till date.
How Many Bitcoin Has Been Lost?
Lost bitcoins- bitcoins is a virtual currency and highly encrypted, it is impossible to get it without its secret key. Therefore more than a quarter of mined bitcoines has been lost for forever. this happened due to several reasons as quoted below.
- In initial stage people do not considered it as an important thing because of its low valuation and lost it due to their carelessness.
- There are some people like James an IT Professional, who claimed that he has lost almost 7500 BTC with their hard drive. Another person was an editor at Gizmodo who has claimed that, he lost almost 1400 BTC in a hard drive.
- Many people who has kept bitcoins secretly has been died and no one has access to their bitcoin privet keys.
- It is said that, almost 1 million bitcoins (privet keys) has been lost with the death of Satoshi Nakamoto (supposed founder of the crypto currency bitcoin).
Some sources like chainalysis, a block-chain analysis company studied, in real, more than 4 million bitcoins are not in circulation. These bitcoines has became irretrievable, Only 13.8 million are being traded today
Hold of Few Big Investors
This is the another reason of bitcoin shortfall in the market. Big bunch of bitcoins are held by very few investor. According to Chainalysis, more than 5 millions of bitcoins has been hide away by 1600 early investors like Winkevoss and Satoshi Nakamoto. From the starting time of bitcoins they somehow controlled the bitcoin market.
like everything else the challenge of robbers is intact here with bitcoin wallets also. Notaries cases like Mr. Gox hack has taken almost 850000 Bitcoins, and 150000 bitcoin were robbed in 2016 from the Bitfinex exchange. And there are much more similar incidents, where thousands of bitcoins has been stolen
Market-cap of Bitcoins-in-Circulation
These all figures shows that almost 10 million bitcoins out of the 17.8 total mined bitcoines are not available for liquidity in the open market.
It means only 7.8 million bitcoins are available in the open market to buy or sell.