What effect do you think will it have on bitcoin? Certainly, you may think that price will be higher. Well, it will certainly but will it anymore be usable? With very much limited supply, won't it create disruption? Or, it will be as precious as diamond; I mean very much rare.
We have already seen it that it is possible for the 21 million cap for bitcoins to be increased, because there have once been an error that caused that number to increase, so that shows that it is possible for that number to increased in future if the Devs wants to do that.
When people die they lose their coins forever if there is no one they have handed their passwords to be able to have access to the coins that are stored in that wallet. For now let’s just wait and see what happens, if there is really going to be a situation as such, the Devs are going to do whatever they are supposed to do.