Truly, the third bitcoin dividing occurred on May 11, 2020, which brought about cutting of the excavator square prizes by half from 12.5 BTC to 6.25 BTC.
Happening just once like clockwork, this is the third bitcoin dividing in history since the first Bitcoin square was produced in 2009.
Below is a brief history of all bitcoin halvings till now:
- 2012 – First bitcoin halving cutting rewards from 50 to 25 BTC
- 2016 – Second bitcoin halving cutting rewards from 25 to 12.5 BTC
- 2020 – Third bitcoin halving cutting rewards from 12.5 to 6.25
There can only be 21 million bitcoins and currently, the number of bitcoins in circulation amounts to 18.37 million as of May 2020.
The 2020 bitcoin halving comes at a time when there is overwhelming interest in this digital asset class from institutions and large hedge funds.
The crypto industry has been captivated by macro investing legend Paul Tudor Jones offering an endorsement of Bitcoin as an investment tool in his latest market outlook – with many investors feeling vindicated by his comments.
Furthermore, bitcoin’s hash rate climbed 8,100% since the last halving and its development from a fundamental perspective shows the long-term outlook for the cryptocurrency remains incredibly bright.
For now though, the successful halving continues to cement bitcoin as a valuable asset by both investors and retailers as the world grapples with massive quantitative easing in the midst of the Covid-19 global crisis.