That’s one way to look at it… And I suppose if there is at least one human with access to at least one agent’s wallet, then there is a “flow to humans” path for the BTC. Re: number go up… agentic wallets could scale rather exponentially. I’m not stacking hard enough!

Why would it be lost? That doesn't follow at all.

Another way to view this is assuming humans are behind the agents and have easentially hust hired a worker. So while the BTC may not directly re-enter human circulation, the BTC is indirectly circulating by representing the work the human has contracted or built the agent to execute; thus allowing said human to spend their time on something else