The data shows that around 20% of the circulating supply is inaccessible or has been destroyed. The price of a cryptocurrency depends on the ratio between buyers and sellers. If there is much more supply than demand, the price lowers and vice versa. As such a large percentage of the circulating supply is unable to be sold, there is less supply-side pressure. In theory, this adds momentum to the price rising.
Bitstamp said: “All of these losses could easily be avoided if people behaved with the same vigilance when storing Bitcoin as we do with traditional assets, like gold. In fact, just like with gold and paper money, the safest place to store crypto might be in a good-old safety deposit box.”
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