How Long Does It Take for Bitcoin to Halve?218

A halving is a scheduled event in the Bitcoin network that occurs every 210,000 blocks, or approximately every four years. During a halving, the block reward for miners is reduced by half. The purpose of halving is to control the inflation rate of Bitcoin and to ensure that the total supply of Bitcoin will eventually reach 21 million.

The first halving occurred on November 28, 2012, when the block reward was reduced from 50 BTC to 25 BTC. The second halving occurred on July 9, 2016, when the block reward was reduced from 25 BTC to 12.5 BTC. The third halving occurred on May 11, 2020, when the block reward was reduced from 12.5 BTC to 6.25 BTC. The next halving is expected to occur in 2024.

Halvings have a significant impact on the price of Bitcoin. In the months leading up to a halving, the price of Bitcoin typically rises as investors anticipate the reduction in supply. After a halving, the price of Bitcoin often falls as investors sell their Bitcoin to take profits. However, in the long term, halvings have been bullish for Bitcoin as they have helped to reduce the inflation rate and to increase the scarcity of Bitcoin.

Here is a table summarizing the Bitcoin halving schedule:

Halving
Date
Block Reward


1
November 28, 2012
50 BTC


2
July 9, 2016
25 BTC


3
May 11, 2020
12.5 BTC


4
2024
6.25 BTC


5
2028
3.125 BTC

As you can see, the block reward will continue to halve every four years until it reaches 0. This means that the total supply of Bitcoin will eventually reach 21 million. It is estimated that the last Bitcoin will be mined in the year 2140.

2024-11-23

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