Today marks 1 year since the fourth Bitcoin halving. It occurred on 20 April 2024 when the block reward for mining Bitcoin fell from 6.25 to 3.125 BTC per block.
The Bitcoin halving is a pre-programmed event that occurs approximately every four years, and it’s a fundamental part of Bitcoin’s design. Essentially, it involves cutting in half the reward that Bitcoin miners receive for verifying transactions and adding new blocks to the blockchain.
This means that the rate at which new Bitcoin enters circulation is reduced. The primary purpose of the halving is to control the supply of Bitcoin and create scarcity.
Bitcoin has a maximum supply of 21 million coins, and the halving helps to gradually release those coins over time. This is designed to mimic the scarcity of precious metals like gold.
Bitcoin Halvings occur roughly every 210,000 blocks, which takes around four years. The next BTC halving is expected to occur in March or early April 2028. To find out more about this and future halvings and how they will affect the emission of new coins, download this free PDF guide.
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TODAY IN CRYPTO HISTORY
It’s been 12 years (or 144 months) since Vitalik Buterin announced the concept of Ethereum.
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