Before the halving, crypto miners were rewarded with 12.5 bitcoin every time their powerful network of computers solved a complex math problem. The next halving will limit the reward to only 3.125 bitcoin, and so on, until all 21 million bitcoin are mined. As of last Thursday, about 18.4 million bitcoin were in circulation, according to Blockchain.com, meaning there’s only 2.6 million remaining up for grabs. In the months following the first and second halvings, bitcoin prices surged as it became abundantly clear that at some point in the near future, new bitcoin issuances will come to a halt. Global Investors“We’re right where oil was in 1890,” commented Alex Leigl, CEO of Layer1, during our panel discussion on Monday.

Source: Forbes May 18, 2020 17:26 UTC