Bitcoin halving: Why it’s important for BTC scarcity
Bitcoin’s most important economic mechanism, the halving, could legitimize Bitcoin as a store of value asset for the digital age, seeking more liquid assets than real estate or gold.
The fourth-ever Bitcoin halving occurred a few hours ago at the 840,000th block. The halving is considered the most important economic mechanism influencing Bitcoin (BTC) supply and creating scarcity for the asset.
The Bitcoin network’s fourth halving event, reduced block issuance rewards from 6.25 BTC to 3.125 BTC per mined block, effectively slashing Bitcoin’s issuance rate in half.
The halving is a crucial mechanism for Bitcoin’s scarcity and market valuation, according to Karim Chaib, the CEO of crypto platform Dopamine App. Chaib told Cointelegraph:
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Author: Zoltan Vardai
