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Bitcoin halving: What it means and why it matters

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Cryptocurrency enthusiasts are watching Bitcoin closely as the long-anticipated "halving" unfolds this week.

The halving comes after bitcoin hit an all-time high of US$73,803.25 in March.

Bitcoin was designed from its inception by its pseudonymous creator Satoshi Nakamoto to have a capped supply of 21 million tokens. Nakamoto wrote the halving into bitcoin’s code to reduce the rate at which new bitcoin are released into circulation.

As Global's Anne Gaviola explains, some see this as a vital event that will solidify Bitcoin’s value as an increasingly scarce commodity, while others see it as little more than a technical change talked up by speculators to inflate its price.

For more info, please go to https://globalnews.ca/news/10434672/bitcoin-halving-price-explainer/
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Category
News and politics
Tags
global news, Bitcoin, Bitcoin halving

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