One-Third of All Bitcoin Have Been Lost

2 June 2025 Research Note

Over one-third of all bitcoin ever mined have been permanently removed from circulation. This research note updates prior estimates from April 2020, which identified just over 4 million lost coins. As of mid-2025, that figure exceeds 6 million, with projections indicating it will surpass 7 million by September. In just over five years, more than 2 million additional bitcoin have been irretrievably lost. While the annual loss rate has declined slightly, the total number of inaccessible coins continues to grow—underscoring the need to adjust supply-side assumptions in any credible valuation model.

AVAILABLE ONLY TO MEMBERS

Archon: Bitcoin 2026

Archon : Greek (verb) ἄρχω (árkhō), meaning "to rule" or "to be first"; leader.

This well-researched analysis, carefully developed and produced by Cane Island Digital Research, presents an array of exclusive perspectives and evaluations unavailable elsewhere. Through a thoughtful examination of relationships, patterns, and trends that have defined Bitcoin's progress throughout its history, Bitcoin 2026 equips you with the expertise and clarity required to successfully traverse this landscape with confidence.

Using hard data and mathematical validation, we've mapped Bitcoin's current position on the adoption curve, revealing patterns that most analysts miss entirely. Our dual forecasting approach combines network growth dynamics with macroeconomic factors to deliver insights into where Bitcoin might be heading through 2026.

The standout "Next Zero" analysis tackles Bitcoin's potential path to $1,000,000 with three evidence-backed scenarios that will transform how you view this asset's future. We don't deal in hype—just rigorous analysis of the conditions that could accelerate Bitcoin's integration into the global financial system.

Bitcoin 2026 serves as a strategy tool for confidently understanding possible outcomes. Our established and peer-reviewed, published methods allow us to offer these newest observations to you. With Bitcoin 2026, you'll be prepared to better understand the market environment and make well-informed decisions. The assurance derived from knowledge and learning is an edge not found elsewhere.

AVAILABLE ONLY TO MEMBERS