Bitcoin (BTC), arguably the most popular cryptocurrency on earth, stands out in many ways. King coin has properties that are different than traditional assets and digital ones. The halving that happens every four years is one of the things that makes BTC so attractive. BTC has seen a tremendous growth from its first halving, in 2012, to the last one in 2020. Looking back at BTC’s first halving shows its trajectory.
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When did the first Bitcoin halving take place?
Bitcoin’s halving reduces block rewards by 50%. As the supply of king coins decreases, the price increases. First halving occurred on November 28th, 2012. The block reward for the network dropped from 50 BTC down to 25 BTC during this period. It was about four years since the first block of genesis had been mined.
In this past year, BTC’s price fluctuated more. After the halving, however, BTC was at a price of around $12. Bitcoin is currently showing a major uptrend on its chart. The world’s biggest cryptocurrency, at the time this article was written, traded for $81,697.15. The price has increased by nearly 6% in the last 24 hours.
Bitcoin’s all-time highest price was $109,114.88 around three months back in January. The price of the king coin has fallen by 25% since this high.
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Does $2,000 Make a Good Investment?
A $2,000 Bitcoin investment at the first half-off in November 2012 when it was $12 per BTC would have produced about 166.67 BTC. The investment, at the current Bitcoin price would be valued around $13,624,500. These sharp increases in Bitcoin prices show the long-term value of early Bitcoin users.
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Source: watcher.guru
