Halving (Halvening)
Every 210,000 blocks (~4 years), Bitcoin’s block subsidy is reduced by 50%, curbing new BTC issuance.
The halving, also nicknamed the “halvening,” is a built-in feature of Bitcoin’s monetary policy. Starting at 50 BTC per block, the subsidy halves every 210,000 blocks, from 50 to 25, then 12.5, 6.25, and so on. These scheduled cuts ensure the total Bitcoin supply never exceeds 21 million coins. Many see the halving cycles as crucial to Bitcoin’s deflationary narrative, often sparking market interest and debates about the impact on price and miner revenue.
Key takeaways
Occurs roughly every four years, reducing new BTC rewards
Central to Bitcoin’s fixed supply design
Can influence miner profits and market sentiment
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