Peter Schiff, who is well-known for his skepticism towards cryptocurrencies, took to social media platform X to poke fun at Bitcoin enthusiasts after the latest Bitcoin halving. He jokingly praised Bitcoin owners for their achievements and inquired if they were planning any celebrations.
“Bitcoin enthusiasts, congratulations on the halving! Are any of you celebrating with parties tonight? I haven’t received an invitation.”
Bitcoins supporters, congratulations on the #Halving event! Are you all celebrating this milestone by holding parties tonight? I haven’t received an invitation, but I understand that after this event, Bitcoin HODLers will see a reduction of approximately half in their total wealth.
— Peter Schiff (@PeterSchiff) April 20, 2024
As a result, the reward for mining a new block of Bitcoin has decreased from 6.25 Bitcoins to 3.125 Bitcoins starting with the 840,000th block. This adjustment is part of Bitcoin’s mechanism to regulate scarcity and keep inflation in check, as the maximum number of Bitcoins that can be mined is limited to 21 million.
The rewards given to miners have been reduced by half, according to Schiff, who then jokingly criticized Bitcoin holders, predicting that their “wealth” would soon be slashed in half. This comment was made following the completion of the fourth Bitcoin halving, an event that happens approximately every four years.
Based on current information from CoinMarketCap, Bitcoin’s price is presently at $64,150. In the previous hour, there was a minor decrease of 0.1%. However, over the past 24 hours, Bitcoin has experienced a growth of 2.4%.
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2024-04-20 09:08