I know is nigh impossible for companies to last forever
So I wanted to know since most Bitcoin holder are HODL
What would happen to a wallet when the company hosting the wallet closes down?
Has any wallet company ever closed down before or experienced issue that affected holders Bitcoin?
If you use an open source wallet and keep the seed words, it will not concern you to close the developer company, since the most that will happen is that the update will stop the application, but you cannot completely cancel it.
I understand very well your concerns to find answers to this hypothesis, since it is possible with closed-source wallets, including trading platforms that give the possibility of using the account to users as a private wallet. Therefore, it is advised to avoid using any type of closed source wallets.