The Next Bitcoin Halving
Notes on the 21st Century (CBRI), March 2019
8 Pages Posted: 7 Apr 2019
Date Written: March 14, 2019
The total supply of Bitcoins, as an instrument of wealth outside the traditional monetary system, is an issue of both academic and investor interest. As the Next Bitcoin Halving (NBH) approaches, wherein the reward for the production of coins is adjusted downwards coins, there are questions regarding the price and mining opportunity that investors are attuned to, and therefore what market expectations may already be incorporating. Is it the efficient market hypothesis, or a constrained supply of Bitcoin, that would most influence price at the NBH? This discussion paper examines the possible impacts of the Next Bitcoin Halving from both perspectives.
Keywords: Bitcoin, Blockchain, Cryptocurrency, Central Banks, Money Supply
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