Bitcoin, the largest cryptocurrency in the world, today celebrates the 12th anniversary of its very first halving. On November 28, 2012, the reward for miners was halved from 50 BTC to 25 BTC, marking a pivotal moment in the history of the digital currency.
From 50 BTC to 3,125 BTC: A look back
Since the first halving, block rewards, which miners earn for verifying transactions and securing the network, have been incrementally reduced to 3,125 BTC. These halvings, which occur every four years, limit the supply of newly mined Bitcoin into the market, thus contributing to the asset’s scarcity.
Bitcoin’s fourth and most recent halving took place in April 2024, and since then the coin has added approximately 45% in value. With a current price of $95,364, near an all-time high of $99,600, Bitcoin is showing how limited supply is a strong driver of price.
Still 1.2 million BTC to mine
With a total cap of 21 million coins, there is only 1.2 million BTC left to mine. However, these remaining coins will become increasingly difficult to produce due to the increasing mining difficulty, which exceeded the 100 trillion mark for the first time on November 5. The next adjustment in this difficulty level is expected on December 2.
Bitcoin’s scarcity, built into the protocol, remains one of the fundamental principles that make the asset valuable in the eyes of investors.
Mining sector remains strong despite challenges
Despite the lower rewards and increasing difficulty, miners remain active, thanks in part to the rising value of BTC. Major players in the sector, such as Marathon Digital, have taken steps to stay competitive, including selling mined Bitcoin and focusing on more efficient operations.
In addition, countries such as El Salvador are looking for sustainable mining solutions, such as the use of geothermal energy. This highlights how the industry continues to evolve despite challenges.
A milestone for Bitcoin and the future
The 12th anniversary of the first halving highlights how Bitcoin’s unique economic model, based on scarcity and predictable halvings, provides a solid foundation for future growth. As global adoption increases and price records remain in sight, Bitcoin remains a powerful symbol of innovation in the financial world.
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Source: https://newsbit.nl/bitcoin-viert-12-jaar-halving-beperkte-supply-en-mijlpalen-in-focus/
