According to U.Today, Michael Saylor, founder of business intelligence firm MicroStrategy and the company's Bitcoin strategy leader, has issued a reminder to the cryptocurrency community about an upcoming significant Bitcoin event. Saylor, who is known for his frequent Bitcoin-related posts, recently tweeted about the impending Bitcoin halving, which is expected to take place in nine days.
The Bitcoin halving is a fundamental event for Bitcoin enthusiasts and the wider crypto community. This will be the fourth halving since Bitcoin's inception in 2009. After the halving, miners' rewards per block will be reduced by half, from 6.25 BTC to 3.125 BTC. Consequently, the total amount of Bitcoin issued per day will decrease from 900 to 450 BTC.
Many cryptocurrency analysts believe that the halving will provide enough momentum for Bitcoin's price to reach a new all-time high. The last halving event in 2020 led to two historic peaks in Bitcoin's price in 2021. The first peak was largely attributed to Elon Musk and Tesla, as the company purchased $1.5 billion worth of Bitcoin and added it to its balance sheet. Tesla also accepted Bitcoin as a payment option for its electric cars for several months.
This year, Bitcoin reached a new all-time high on March 14, hitting the $73,750 mark. At present, Bitcoin is trading at $67,621, reflecting a 4% drop in the last hour.