Morgan Creek Digital Co-founder and partner Jason Williams doesn't believe the next bitcoin (EXANTE: BTC.EXANTE) halving will do anything to the bitcoin price as it was before.
At press time, bitcoin is trading at $7,324 according to the chart of the USD/BTC trading pair from EXANTE.
When Bitcoin’s founder Satoshi Nakamoto mined the first Bitcoin block on Jan. 3, 2009, he created the first 50 bitcoins.
This reward stayed the same for another 209,999 blocks, when the first "halving," or reduction in rewards, took place. Every 210,000 blocks the network reduces the block reward by 50 percent.
Following the most recent halving, in July 2016, the reward is 12.5 BTC.
The next Bitcoin halving will take place on May 29, 2020. Since that moment, each bitcoin block mined will reward with 6.25 Bitcoin to the miner that is able to find it.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.
Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.