According to Fidelity, 17% of Bitcoin is classified as ‘ancient.’ It is valued at around 360 billion USD and has not been in circulation for over ten years. More Bitcoin falls into this ancient category daily than new tokens are mined.
With the increase in ancient Bitcoin and an estimated 20% of mined Bitcoin lost, the effective circulating supply diminishes. This scarcity threatens Bitcoin’s long-term role as a currency, potentially pushing it towards speculation.
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