$140 Billion Bitcoin Not Moved in Years, “Lost” Says National Cyber Security Council

dormant bitcoin jan 2021 1

More than four million bitcoin, worth $140 billion, has not moved in the past five years according to blockchain data. There remain almost precisely one million bitcoin mined in 2009 which have not moved, widely assumed to belong to Satoshi Nakamoto, bitcoin’s inventor. Another 1.4 million bitcoin was mined in 2010 and 2011, with the rest then mined up to 2016. “Over $140 billion in the Bitcoin cryptocurrency is currently lost or inaccessible,” UK’s National Cybersecurity Council (NCSC) said. It’s not clear how they reached the conclusion all of these are lost because just last year some bitcoin miners signed 145 bitcoin addresses mined in 2009 to show ownership. As evidence, NCSC cited some American programmer who has only two more tries left for the password to $220 million bitcoin. NCSC’s solution is to get a paperwallet, which is fairly sound advice as long as you can secure it and…

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