1.14 The Bitcoin Halving
The four-year cycle that makes Bitcoin progressively scarcer.
The Bitcoin Halving
The Bitcoin halving is one of the most important and predictable events in financial history. Every 210,000 blocks (approximately 4 years), the block reward that miners receive is cut in half.
The Bitcoin halving is one of the most important and predictable events in financial history. Every 210,000 blocks (approximately 4 years), the block reward that miners receive is cut in half.
2009-2012: 50 BTC per block | 2012-2016: 25 BTC | 2016-2020: 12.5 BTC | 2020-2024: 6.25 BTC | 2024-2028: 3.125 BTC
This creates a supply shock. As new bitcoin issuance drops by 50%, the existing holders are less inclined to sell at low prices, and demand must either drop or prices must adjust upward.
Historically, each halving has preceded a major bull market. This isn't guaranteed to continue, but the mechanism is clear: when supply growth is cut in half while demand remains steady or grows, the price must rise to clear the market.
The halving is not controlled by any person or institution. It is written into the code and executed automatically by the network. This is the power of a monetary policy governed by mathematics, not politics.