This is one of the main reasons why the bitcoin price will increase. Basic supply and demand economics as people lose there private keys and don’t know how to secure there bitcoin they are unable to sell them. As I said before there are only 21 million bitcoins and we are losing them faster then we are mining them. But time will tell.
A drug dealer who amassed a €55 million fortune in the cryptocurrency bitcoin has lost the codes to access the accounts after hiding them with his fishing rod, which has now gone missing.
The Criminal Assets Bureau (Cab) has confiscated the 12 online accounts, or wallets, containing 6,000 bitcoin. However, The Irish Times has learned the accounts cannot be accessed because the codes are missing.
It means the €53.6 million monetary value of the bitcoin inside them, which is the biggest case in the Cab’s 25-year history, is out of the bureau’s reach.
see full story @ The Irish Times