Bitcoin halving 💵💵💵is a crypto event that takes place about every four years💰The event reduces the mining block reward by 50%, thereby reducing the Bitcoin supply entering the market💰 The drop in supply is usually accompanied by an increase in price as halving makes Bitcoin scarcer.
There have been four Bitcoin halving events since 2009 – first in November 2012 (reducing block reward to 25 BTC), second in July 2016 (reducing block reward to 12.5 BTC), third in May 2020 (reducing block reward to 6.25 BTC), and fourth in April this year (reducing block reward to 3.125 BTC).
The next Bitcoin halving event is expected in 2028, when the block reward will reduce to 1.625 BTC💰As of May 2024, there were around 19.7 million BTC in circulation, and this means about 1.3 million are left to be released via mining rewards.
The Bitcoin halving event is expected to continue until 2140 (or 29 halvings left as of 2024), when the proposed limit of 21 million BTCs is theoretically reached.