Bitcoin Halving: Block Reward Reduced
Fourth Halving Completes
On April 19, 2024, the Bitcoin network underwent its fourth halving event. This event, which occurs approximately every four years, reduces the block reward for successful miners by half.
Impact of Halving
The halving event has a significant impact on the supply of new Bitcoin. Prior to the halving, the block reward was 6.25 BTC. Following the halving, the block reward is reduced to 3.125 BTC. This reduction in supply can lead to increased demand and price appreciation for Bitcoin.
Historical Context
The first Bitcoin halving occurred in 2012, reducing the block reward from 50 BTC to 25 BTC. The second halving occurred in 2016, reducing the block reward from 25 BTC to 12.5 BTC. The third halving occurred in 2020, reducing the block reward from 12.5 BTC to 6.25 BTC.
Future Halvings
The next Bitcoin halving is expected to occur in 2028. Following that halving, the block reward will be reduced to 1.5625 BTC. The final Bitcoin halving is expected to occur in 2140, when the block reward will reach its minimum value of 0.000000359 BTC.
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