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Guest Author: Will Canny
Bitcoin's status as the "gold" of cryptocurrencies has gradually solidified. One mechanism that ensures Bitcoin's scarcity and value is the Bitcoin halving, which occurs approximately every four years. At first glance, Bitcoin halving might seem to have a negative impact on the price of Bitcoin. However, the reality is not entirely so. Bitcoin halving is a double-edged sword for people with different backgrounds. This article introduces what Bitcoin halving is, while also addressing the most pressing concerns of crypto investors today.
Bitcoin has a total supply limit of 21 million. Its underlying code dictates that only 21 million Bitcoins will ever exist. This limited supply ensures Bitcoin's economic scarcity, supporting its value system.
Bitcoin is obtained through mining, with the existing 21 million bitcoins expected to be mined by 2140. In other words, the last new Bitcoin is expected to be produced by 2140, with all remaining bitcoins to be mined before this time. Currently, miners have excavated nearly 90% of the total Bitcoin supply, mining an average of about 900 bitcoins daily.