Bitcoin Halving is a programmatic event built into Bitcoin’s code that cuts the block reward paid to miners in half approximately every four years (every 210,000 blocks). This mechanism is fundamental to Bitcoin’s deflationary monetary policy and is one of the most anticipated events in the entire cryptocurrency calendar.
When Bitcoin launched in 2009, miners received 50 BTC per block. After the first halving in 2012, this dropped to 25 BTC. The second halving in 2016 reduced it to 12.5 BTC. The third halving in May 2020 brought it to 6.25 BTC. The fourth halving in April 2024 reduced it to 3.125 BTC. This will continue until approximately 2140, when the final fraction of Bitcoin is mined and the total supply reaches 21 million.
Halvings historically precede significant Bitcoin bull markets by 12–18 months, as reduced supply issuance creates upward price pressure if demand remains constant or grows. The 2020 halving preceded Bitcoin’s rise from $9,000 to $69,000 by November 2021. However, past performance does not guarantee future results.
Example: Before the April 2024 halving, miners earned 6.25 BTC per block (about $375,000 at $60,000/BTC). After halving, they earn 3.125 BTC per block, instantly halving daily Bitcoin issuance from ~900 BTC to ~450 BTC per day.
Learn more: Investopedia — Bitcoin Halving Explained
