Glossary
Bitcoin Halving
Crypto
The Bitcoin halving is a protocol event, roughly every four years, that cuts the block reward paid to miners by 50%.
Halvings occur every 210,000 blocks and reduce the rate at which new bitcoin enters supply — from 50 BTC per block in 2009 to 3.125 BTC after the April 2024 halving. Total supply remains capped at 21 million.
The event is fully known in advance, so its effect is contested: supply issuance falls immediately while miner revenue per block halves, pressuring higher-cost miners. Historically price strength has appeared over the following 12-18 months, but with only a handful of observations the sample is too small to be treated as a rule.