Bitcoin’s value rose nearly 12% over the last week, and 34% over the last month. A Bitcoin halving occurs every four years. As a result, Bitcoin is inflation-resistant — because only 21 million bitcoins will ever be mined.
A Bitcoin halving event is when the reward for mining Bitcoin transactions is cut in half. At each halving event, the BTC generation algorithm cuts the block reward by half. Bitcoin is halving on May 11, 2020, at around 4 pm est.
The reward is cut in half every 210 000 blocks, roughly every four years. The last coin will be created around the year 2140. I have explained this system in the past in a discussion of the process of Bitcoin mining: New Bitcoins are added to the circulating supply all the time — but baked into Bitcoin’s software is a “halving” of its issuance of new credits. Bitcoin is often referred to as a digital equivalent of golddue to its scarcity and popularity as a store of value. In the second week of March when equities were tanking, so was bitcoin and even safe harbor assets like gold - cash was king. Bitcoin has seen frenzied activity ahead of next week’s halving event. Following the Cares Act, the S&P 500 has rallied and is … BTG, a variant of Bitcoin made to be mined on GPUs, continues the same halving schedule as Bitcoin. Gold, on the other hand, rose 1% last week and about 4% over the last month. The initial reward was 50 per block; the first halving (at block 210 000) cut it to 25, and the second halving (at block 420 000) cut it …
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