‘Not as bad as it sounds’: What you should know about Bitcoin’s halving

📆 4/22/2024 11:24 AM
📰 TheCitizen_News

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Bitcoin's halving event takes place every four year whereby the rate which new bitcoin are released into circulation is cut in half.

Bitcoin's halving event occurs every four years.The idea of having your money sliced in half is enough to send even the richest man into panic mode. So, it’s no surprise that social media was rife with speculation in the days leading to Bitcoin’s halving., Luno country manager, Christo de Wit debunked some myths around Bitcoin’s long anticipated event.

“It’s part of a mechanism to prevent the inflationary impact that would be caused by releasing the total supply too quickly, with the last bitcoin to be mined around 2140. Reflecting on the past, de Wit noted that when the first halving took place in 2012, bitcoin was priced at just over $12.

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