The Next Bitcoin Halving

Notes on the 21st Century (CBRI), March 2019

8 Pages Posted: 7 Apr 2019

See all articles by Usman W. Chohan

Usman W. Chohan

UNSW Business School; Critical Blockchain Research Initiative (CBRI); Centre for Aerospace & Security Studies (CASS)

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

Suggested Citation

Chohan, Usman W., The Next Bitcoin Halving (March 14, 2019). Notes on the 21st Century (CBRI), March 2019. Available at SSRN: or

Usman W. Chohan (Contact Author)

UNSW Business School ( email )

UNSW Business School
High St
Sydney, NSW 2052

Critical Blockchain Research Initiative (CBRI) ( email )

Centre for Aerospace & Security Studies (CASS) ( email )


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