Bitcoin halving is likely this week — here's what you need to know [CNBC]
GameStop Corporation (GME)
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Source: CNBC
In simple terms, it is when the rewards for bitcoin miners are cut in half. This reduces the pace at which new bitcoins enter the market. Since there will ever only be 21 million bitcoins, the halving serves to create more scarcity. In the past, halving has preceded massive rises in bitcoin prices to new all-time highs. But this time, things are different Bitcoin has already hit a new record high, before the halving has taken place. That's because the approval of spot bitcoin exchange-trade funds has excited the market and brought in lots of demand for the cryptocurrency. In the latest episode of CNBC Tech's “Beyond the Valley” podcast — which you can listen to above — Tom Chitty and I discuss what exactly the halving is and how this latest bitcoin cycle is different from the past. If you have any thoughts on this or previous episodes, please email us at beyondthevalley@cnbc.com You can subscribe to “Beyond the Valley” by clicking the links below to your chosen platform:
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