Halving
The halving is the pre-programmed halving of the amount of new bitcoin miners receive per block; it takes place roughly every four years.
Explained simply
New bitcoin are created only as a reward for miners. Initially that was 50 bitcoin per block. Every 210,000 blocks, roughly every four years, this number halves: 25, 12.5, 6.25, and since April 2024 it is 3.125.
That is how the total supply slowly approaches the cap of 21 million. Around the year 2140 the last bitcoin will be created. The halving is thus the instrument that enforces Bitcoin's scarcity over time.
Whether and how halvings affect the price is disputed. What is certain: new supply falls, and the date is known years in advance.
From the familiar world
A gold mine whose output is halved by law every four years, no matter how high demand is. Everyone knows the production schedule down to the last gram.
An example
The fourth halving took place in April 2024. Since then about 450 new bitcoin are created per day instead of 900 previously.
Why it matters
The halving is a news topic clients ask about. The credible answer emphasises the supply logic (fixed scarcity) and avoids price forecasts.
To pass on
„Every four years the amount of new bitcoin halves, set in code since 2009. That is the built-in scarcity.“
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