Let’s say there are 15 million Bitcoin in circulation today, with “in circulation” meaning someone has the private keys needed to move them. Today you can buy one Bitcoin for ~80k USD.
Now let’s say a global event wipes out one third of the private keys overnight. Would you pay 120k USD for one Bitcoin tomorrow?
3 Comments
It greatly increases the price
It makes the rest of the BTC more valuable.
Let’s say there are 15 million Bitcoin in circulation today, with “in circulation” meaning someone has the private keys needed to move them. Today you can buy one Bitcoin for ~80k USD.
Now let’s say a global event wipes out one third of the private keys overnight. Would you pay 120k USD for one Bitcoin tomorrow?