Brits Sit On $45.3 Billion in Forgotten Bitcoin
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UK residents may be sitting on billions of dollars in the world’s biggest cryptocurrency, according to blockchain technology-based platform CoinPoker.
CoinPoker cited its study per which Brits hold up to £34 billion in unaccounted Bitcoin (BTC).
This translates to $45.32 billion.
It goes on to state that up to 720,000 BTC is unaccounted for in the UK alone.
The report went on to cite the World Population Review data, which stated that the UK currently owns 18% of the world’s cryptocurrencies.
“Some popular coins that the UK uses include Litecoin, Ethereum, and Bitcoin,” it says.
According to analyst David Bartram, “with a large portion of the world’s Bitcoin supply owned by UK residents, there is undoubtedly a huge amount of money unaccounted for.”
Based on the above figures, the report made several conclusions:
Therefore, CoinPoker concluded, “as the cost of living continues to rise, some Brits may be sitting on a small fortune.”
Bartram noted that some of this fortune may never be recovered.
However, he said that “it’s certainly worth it for people to check through old hardware and try to remember passwords if they have ever owned Bitcoin.”
Globally, some 3 million—possibly even 4 million BTC—are missing—just sitting somewhere in a wallet with a forgotten passkey, on destroyed hardware, or in the wrong address.
And these are the coins that many presume will never be recovered.
Blockchain analytics firm Chainalysis, for example, found that as of 2020, 3.7 million coins were lost.
Similarly, an earlier Unchained analysis found that some
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