Research: 6 Percent of Bitcoin Supply Lost!

Giant crypto exchange FTXWhile everything seemed to be fine in the first days of November, it went bankrupt in just 2 weeks. FTX’s bankruptcy is not the first bankruptcy story to resonate with the industry. In the past, the bankruptcy of many crypto companies made the headlines.

Bitcoin, the ancestor of cryptocurrencies, makes a difference with its limited supply of 21 million. However, limited supply can turn into a disadvantage when it comes to bankruptcies.

According to research by Casa, giant crypto platforms that went bankrupt or somehow lost their funds in the past dominate 6% of the current supply of Bitcoin.

According to the research, a total of 1,200,000 on 14 crypto platforms bitcoin not in circulation. Loss BTC Although the addresses of the tokens are known, it is not known who owns it or when these cryptocurrencies will take action.

After the research was published on the Casa blog, CasaHODL co-founder Jameson Lopp pointed to another danger.

Beware of Fake Bitcoins!

Jameson Lopp drew attention to fake crypto money projects using the name Bitcoin in a post on Twitter.

80+ crypto assets have the word “bitcoin” in their name.
14 have a market cap over $1,000,000.
3 claims to be Bitcoin.
1 is Bitcoin.

— Jameson Lopp (@lopp) September 22, 2022

Lopp, more than 80 on the market “Bitcoin” He announced that there are cryptocurrencies bearing his name, 14 of which have a market value of more than $ 1 million.