Irrespective of rank I believe am still learning in gradual steps about bitcoin and therefore have this question to ask, it would be of good consequence for me if am well enlightened on this particular subject about bitcoin. So just in case, someone I might want to talk to about bitcoin for the very first time happens to ask me I can comfortably address it too.
Question:
I have read few posts of persons talking about losing their wallet's containing BTC and couldn't recover it at all. Hence, as people keep losing their BTC due to loss of wallet seed phrase, can it affect or cause a decline in BTC supply entirely?
There are millions of wallets with small and huge amounts of Bitcoins which are considered dead because there is no activity on them. The possibility here is that these bitcoin are now burned. There is the limit of the Bitcoin Supply which is around 21Million Bitcoins and I want to assure you that this amount of bitcoin is not the final total supply. Because as I have already said that millions of Bitcoin wallet funded from stoshis to thousands of Bitcoins are also dead bitcoin wallets so it is hard to estimate the exact total supply. The estimated amount of the lost Bitcoin supply is from 15% to the 20% of the exiting supply as per some sources.
ChainAnalysis &
Forbes The amount is close to the 3.7Million Bitcoins hmm this is the huge amount of Bitcoin but this is approximate the final results might be More then this or might be lower then this.