The upcoming halving, which occurs roughly once every four years, is expected to occur in mid-April 2024 and will see the reward for successfully mined blocks drop from 6.26 to 3.125 Bitcoins (which currently translates to a range of around $411,400 to $205,400).
Philippe Bekhazi, CEO of XBTO, a platform for digital asset services, tells Verdict that the event will have “profound implications” across the broader crypto asset ecosystem.
Why and how do Bitcoin halvings occur?
Halving is built into Bitcoin’s core code as a means of maintaining the currency’s value by controlling inflation.
“The halving mechanism ensures the gradual distribution of Bitcoin, ultimately capping the supply at 21 million units, thereby preserving its scarcity and value over time,” explains Bekhazi
