The fourth Bitcoin halving was completed at 8:09 AM Taiwan Time on April 20, when the blockchain reached block height 840,000. As a result, the Bitcoin block reward has been reduced from 6.25 BTC to 3.125 BTC.
2024 Bitcoin Halving: Key Details
- Final 6.25 BTC Block: Block 839,999 marked the last block to award the pre-halving reward of 6.25 BTC. It was mined by SBI Crypto, as recorded by explorers like Blockchain and Mempool.
- Halving Mechanism: Bitcoin’s supply is capped at 21 million coins, with halvings occurring every 210,000 blocks (roughly every 4 years) to control inflation.
👉 Why Bitcoin halvings matter for long-term value
Historical Context: Past Bitcoin Halvings
2020 Third Halving
- Occurred on May 12, 2020, at block height 630,000.
Notable Event: The preceding block (629,999) included a hidden message in its Coinbase data—a New York Times headline from April 9, 2020:
"NY Times 09/Apr/2020 $2.3T Injection: Fed’s Far-Reaching Rescue Plan Exceeds 2008 Crisis Measures."
- Backdrop: The halving coincided with global economic turmoil due to COVID-19, highlighting Bitcoin’s narrative as "digital gold."
2009 Genesis Block
The first Bitcoin block (block 0) embedded a Times of London headline from January 3, 2009:
"Chancellor on Brink of Second Bailout for Banks."
- Symbolism: This message underscored Bitcoin’s purpose as a decentralized alternative to traditional finance.
FAQs About Bitcoin Halving
- How does halving affect Bitcoin’s price?
Historically, halvings correlate with bull markets due to reduced supply pressure, but past performance doesn’t guarantee future results. - Will miners remain profitable after halving?
Mining profitability depends on Bitcoin’s price, transaction fees, and energy costs. Some miners may upgrade equipment or exit the market. - What’s the next halving date?
Expected around 2028 at block height 1,050,000, reducing rewards to 1.5625 BTC.
👉 Explore Bitcoin mining strategies post-halving
Investment Considerations
Cryptocurrency investments carry high risk, including volatile price swings and potential capital loss. Always conduct independent research and assess risk tolerance.
For more insights, check our detailed guides on blockchain economics and market trends.
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