Watch Live: Countdown To The Most Important 'Halving' In Bitcoin History
We've previewed the shit out of this 'halving' (here, here, here, and here most recently) and now it's here.
As Bitcoin Magazine notes, this halving event – projected to occur within the next few hours – will occur as Bitcoin reaches block 840,000, marking the point at which its relative supply issuance will drop below that of gold for the first time.
Previous halvings have historically acted as a turning point in the market as the reduction in newly issued coins has been met with surging demand for the currency throughout each prior halving cycle.
As a reminder, this is part of Bitcoin’s design, which is hard-coded into the protocol, limiting the total Bitcoin supply to 21,000,000 BTC. New Bitcoin is issued through mining rewards that have been reducing roughly every four years. In the latest, 4th halving episode, the mining reward will be cut from the 6.25 BTC per block to 3.125 BTC.
This time around, the halving has been preceded by a new all-time high, an occurrence that has never happened since Bitcoin’s inception in January 2009.
Between the launch of Spot Bitcoin ETFs in the United States (arguably the most successful ETF debut in history) by major financial institutions, and a potential resurgence in inflation, the Bitcoin bulls are on parade driving the market higher into uncharted territory.
Net flows into the spot Bitcoin ETFs have become more balanced. Overall, the magnitude of fresh inflows/outflows and the net flows have fallen over the course of last month.
But, as Goldman Sachs points out, the impact of US Spot Bitcoin ETFs on BTC supply is notable.
At present, the US Bitcoin ETFs are holding about $53b in assets (Bloomberg), which is about 835k Bitcoin.
This corresponds to the US Spot BTC ETFs holding :
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4.25% of total Bitcoin supply
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6.20% of Bitcoin supply that was active in the last 5 years
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12.40% of Bitcoin supply that was active in the last year
In celebration of the historic fourth Bitcoin halving and to ring in a new epoch in sound money, Bitcoin Magazine and Kraken are Livestreaming the event.
This event will bring together prominent voices in the Bitcoin space including Barstool CEO Dave Portnoy, Strike CEO Jack Mallers, Bitcoin Magazine Institutional Lead Dylan LeClair, and Ten31 Managing Partner Matt Odell.
Other guests slated to appear on the livestream are Bitcoin Magazine Chief Content Officer Pete Rizzo, Human Rights Foundation Director of Financial Freedom Christian Keroles, Simply Bitcoin Founder Nico Moran, Bitcoin Magazine Correspondent Isabella Santos, and Pomp Investments Founder Anthony Pompliano.
In the countdown to Bitcoin’s fourth epoch, Livestream guests will review the Top 21 Moments of the past four years, as voted on by Bitcoin Magazine readers.
Top moments include the rise of the Laser Eyes meme, MicroStrategy unveiling of its bitcoin-based treasury strategy, and the notorious rise and fall of disgraced FTX founder Sam Bankman-Fried. In partnership with Nitrobetting, Bitcoin Magazine will be awarding a 1 BTC prize pool for the Bitcoin Halving Challenge to contestants who most closely predict the price of the currency at Block 840,000.
Viewers will be able to count down to the halving with some of the biggest names in the space and commemorate the growth of Bitcoin with a New Year’s Eve-style celebration with Bitcoiners from around the world.
The full roster of Livestream participants can be seen on www.BitcoinHalving.com and viewers can tune in on the Bitcoin Magazine YouTube channel, Twitter (X), LinkedIn, Rumble and Facebook.
Watch the Livestream here (due to begin when the block height reaches 839,974):
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