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👇What Is Bitcoin Halving? Definition, How It Works, Why It Matters
👇What Is Bitcoin Halving?⁉️
💖⬇️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 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.1
💵KEY TAKEAWAYS🗝️🗝️
A Bitcoin halving event occurs when the reward for mining Bitcoin transactions is cut in half.
Halvings reduce the rate at which new coins are created and thus lower the available amount of new supply.
Bitcoin last halved on May 11, 2020, resulting in a block reward of 6.25 BTC.
The final halving is expected to occur in 2140, when the number of bitcoins circulating will reach the theoretical maximum supply of 21 million.
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