Sometime in May 2020, Bitcoin miners will see their profits suddenly cut in half. Called "the halving," the event is not an accident but a function of the software supporting the world’s most popular cryptocurrency. The halving is meant to maintain the integrity of Bitcoin as it matures and inches toward achieving its ultimate supply limit.
Bitcoin has already seen two halvings, once in 2012, when Bitcoin was still a geek fad, and again in 2016, before the rising interest in cryptocurrencies and digital tokens caused a surge in the price of Bitcoin. This time around, things are much different. Bitcoin is worth around 20 times its value at the previous halving, has a market cap of around $130 billion, and large companies have built profitable businesses around mining the cryptocurrency. The next halving will certainly have huge repercussions in the mining industry and the Bitcoin community.
Here’s what you need to know as the next halving draws close.
Read more here: When is the next bitcoin halving?