On this week's episode of Yahoo Finance Future Focus, our host Brian McGleenon discusses the impact of this month's bitcoin halving event. The Bitcoin halving, occurring approximately every four years, involves a reduction in the number of bitcoins rewarded to miners, creating scarcity and potentially impacting the cryptocurrency's price. With the block reward dropping from 6.25 to 3.125 BTC per block, investors are anticipating how the market will respond.
Now, why does this matter? Well, Bitcoin has a finite supply. There will only ever be 21 million Bitcoin. Currently, just over 19 million have been mined, leaving less than 2 million left to be created. So this reduction can lead to a supply crunch for Bitcoin, potentially causing its price to appreciate.
Now, the last halving will occur in 2140. And at that point, there will be 21 million Bitcoin in circulation and no more coins will be created. From there, miners will just be paid with transaction fees. Now remember, this doesn't constitute financial advice, and it's essential to approach Bitcoin investment with caution.I’m an Average Middle-Class Retiree: Here’s How Much Savings I Have
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Source: YahooFinanceCA - 🏆 47. / 63 Read more »