A good portion of the bitcoin supply has been lost due to holders dying or forgetting their private keys. These coins will never be recovered and are regarded as lost bitcoins. They play into the scarcity factor that drives the value of bitcoin up. It is estimated that 20% of the digital asset has been lost. These could technically still be recovered but it is unlikely since losing a private key means losing the coins held in the wallet. Since so much of the asset is lost, the rest remaining in circulation are more valuable than ever, especially given the limited supply of bitcoin. Sometimes, though, some of these wallets with BTC which have been regarded as a lost cause can be reactivated again. It could be the holder finally managed to find their lost private keys or they had simply been holding for that long. Related Reading | Institutional Bitcoin Open Interest Plummets, But Why? One of these wallets, dormant for eight years with millions in BTC, has just been reactivated and coins have moved out for the first time in a long time. Whale Wallet Activates A whale wallet holding 2,207 BTC has now been activated after spending 8.1 years in dormancy. Whale Alert reported the activation after the wallet began moving BTC out. 💤💤💤💤💤💤💤💤💤💤 A dormant address containing 2,207 #BTC (150,512,129 USD) has just been activated after 8.1 years (worth 294,287 USD in 2013)!https://t.co/a6EPxBbXd5 — Whale Alert (@whale_ale...
