It has been exactly 12 years since Bitcoin first halved

Exactly 12 years ago, the first halving took place in the network of the flagship crypto asset. During it, miners’ remuneration per mined block was automatically reduced from 50 to 25 BTC. The last halving, as a result of which crypto miners will receive 3.125 BTC, took place on April 20. Another anniversary is notable, among other things, because recently the main digital coin lacked a few hundred dollars to reach the $100 thousand mark.

Currently, there are 19.8 million coins in total circulation. There are 1.2 million BTCs left to be mined until the 21 million bitcoin mark is reached. Limited issuance is the fundamental principle behind the bitcoin network. It is what is designed to make the flagship digital asset scarce.

It would seem that there are not many coins left to mine, compared to what crypto miners have already obtained. However, the complexity of mining is constantly growing, which requires more financial, time and energy expenditures from specialists. But despite all this, miners are not going to capitulate, especially in the current bullrun in the market.

The current year has turned out to be quite successful for the major digital coin. It has added more than 150% since the beginning of January. Of course, one of the key drivers of growth has been the emergence of spot bitcoin-ETFs, which immediately attracted the attention of large institutional capital. Currently, all industry funds have accumulated more than $30 billion in total.

Now many industry participants are optimistic about the next year. It is expected that the Federal Reserve will start systematic quantitative easing. Also, the powers of the new US President Donald Trump, who has long been perceived as a pro-cryptocurrency official, will come into effect.

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9.8

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