Around 20% of the world’s Bitcoin is sitting in digital wallets that can’t be accessed by their owners, according to a Chainalysis report. This means that at its current value approximately $140 billion is locked-up due to lost digital keys, in this case, the lost Bitcoin passwords.
Volatile Bitcoin Marketplace
Bitcoin is the most popular cryptocurrency. It has skyrocketed in value over the last 5-year period. Despite the coronavirus techno-pandemic, 2020 set records. A lot of Bitcoin holders became extremely rich almost overnight.
The price of Bitcoin dropped earlier this week but it still remains up more than 50 percent in the last 30 days when it broke the $20,000 ceiling.
In fact, its price surged as much as $40,000 on Thursday. The price changes show that the cryptocurrency is volatile, a risky investment. But many investors are optimistic that its price will keep going up. They also expect a downturn along the way, which they consider an opportunity to buy more.
Chainalysis is a cryptocurrency firm that provides data, and research services to government agencies, financial institutions, and cybersecurity companies throughout the world.
