The Bitcoin Halving is when Bitcoin's mining reward is split in half. It takes the blockchain network about four years to open 210,000 more blocks, a standard set by the blockchain's creators to continuously reduce the rate at which the cryptocurrency is introduced.
The first reward was 50 Bitcoin. Previous halving dates were:
Nov. 28, 2012, to 25 Bitcoins
July 9, 2016, to 12.5 Bitcoins
May 11, 2020, to 6.25 Bitcoins
The next Halving is expected to occur in April 20, 2024, when the block reward will fall to 3.125 BTC.
As of March 2024, about 19.65 million Bitcoins were in circulation, leaving just around 1.35 million to be released via mining rewards.
The last Bitcoin will be mined in the year 2140.
The Halving events typically lead to a 2x to 100x increase in the price of Bitcoin within 12 - 18 months post Halving.
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