Every four years, Bitcoin undergoes a process called Halving, which decreases the amount of Bitcoin that miners receive as rewards for adding new blocks to the blockchain. The first reward was 50 Bitcoins in 2009, then it became 25 Bitcoins in 2012, followed by 12.5 Bitcoins in 2016, and now it’s 6.25 Bitcoins since 2020. The upcoming Halving, slated for April 19, 2024, will further decrease the reward to 3.125 Bitcoons per block.
Coinbase’s perspective on Bitcoin halving:
According to Coinbase’s French Director, Côme Prost-Boucle, the occurrence of Bitcoin’s halving generates a feeling of digital rarity within the cryptocurrency industry.
Reducing the production of Bitcoin through this method results in fewer new coins entering the market. With less supply available and rising demand, the price of Bitcoin tends to climb significantly.
Previously, Bitcoin’s value has significantly risen following halvings. However, according to Prost-Boucle, it’s not only the halving that influences Bitcoin’s price. Factors such as regulations, emerging technologies, and market sentiment play crucial roles as well.
According to Prost-Boucle’s perspective, shortening the time frames between halvings brings advantages to the French cryptocurrency industry. It stimulates financial literacy and increases public knowledge about cryptocurrencies, thereby drawing in novice and experienced investors alike.
According to Prost-Boucle, the influence of the cryptocurrency industry on France’s local market has grown significantly. Now, approximately one in every eight individuals there holds crypto assets, representing a noteworthy surge of 28% within the past year.
The head of Coinbase France is optimistic about the area’s prospects following Bitcoin’s halving, which could boost education and creativity in digital currencies, possibly placing France at the forefront of Europe in this field.
A cryptocurrency halving goes beyond just being a technological occurrence; it sparks economic and innovative transformations within the crypto industry. With each halving, there’s an influx of new investors, both retail and institutional, suggesting a move towards broader market adoption.
Read More
Sorry. No data so far.
2024-04-18 13:56