Preston Byrne, one of the most prolific and outspoken cryptocurrency bears, is out with another entry this week on what he's calling "The Great Marmot Bank Run" (he really likes marmots), a liquidity crisis that he predicts will happen to bitcoin sometime in the next year. Like I've said previously, even though I'm bullish on bitcoin, I like to read bear-cases to make sure I'm getting contrarian views. One thing I think he's missing is the fact that you don't need USD liquidity to make use of bitcoin, you can use the bitcoin as the value itself. But you can't do that if you don't control your private keys. Remember, you don't really own bitcoin unless you control the private keys.
WARNING: Do not read this article unless you want to buy more bitcoin.
Jeff Roberts published an interesting finding by Chainalysis on the possibility that up to 4 million bitcoins are "lost", although it could be as low as 2 million. Essentially, Chainalysis estimates a percentage of long-term "hodler" addresses that haven't moved coins since the early days of bitcoin, and a key component of their determination is that with forks (like bcash) even long-term hodler addresses move funds so they can safely claim their forked dividend, which is very clever. There was also that one guy who lost 7,500 BTC when he accidentally threw away his computer that held his private keys. Those BTC are now worth around $82.5m 😱