Famous Writer Robert Kiyosaki Suggests Buying Bitcoin Instead of Gold and Stocks, Here's Why
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Famous Writer Robert Kiyosaki Suggests Buying Bitcoin Instead of Gold and Stocks, Here's Why
Previously, the Bitcoin Halving was expected to occur in mid-April 2024. According to the Binance counter, there are only 32 days and 48 minutes left until the return for Bitcoin miners (block reward) is halved.
At the time this article was written, Bitcoin was hovering around USD 65,800, and interestingly, a new all-time high (ATH) had been reached just before the halving occurred.
Everything seems fine, and investors expect the price to rise after the halving next month, in line with historical performance. But on the other hand, the reduction in block rewards is a concern in itself.
In the April halving, the 210,000th block of this cycle will be mined, and the block reward will drop from 6.25 to half at 3.125. About 94% of maximum supply has been mined, and now the halving will likely cause supply shortage concerns as in previous cycles.
Even without a halving, a Bitcoin ETF on its best days can experience BTC demand of more than 40 times its daily issuance. The halving, which is expected to provide huge returns for everyone, may not be so beneficial for miners.
Marathon Digital growth officer Adam Swick said that this event would be an important test for companies with large funding. One of the largest mining companies in North America said miners were used to a block reward of 6.25 BTC, and now it will suddenly be halved. Some companies are known to strengthen their cash reserves with large sales.
“Even though the immediate impact is a decline in rewards and profitability, these companies are typically more resilient when considering their greater access to capital and efficient operations,” said Swick, quoted from Cointurk, Friday (22/3/2024).
Famous Writer Robert Kiyosaki Suggests Buying Bitcoin Instead of Gold and Stocks, Here's Why
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