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Bitcoin, the largest cryptocurrency by market value, is celebrating the 11th anniversary of its first-ever halving. This event, which occurred in 2012, marked a significant milestone in Bitcoin’s history. The halving mechanism, programmed into the Bitcoin mining algorithm, was designed to counteract inflation and maintain scarcity. Before the first halving, miners were rewarded with 50 BTC per block, but this was reduced to 25 BTC after the event. Subsequent halvings in 2016 and 2020 further reduced the block subsidy to 12.5 BTC and 6.25 BTC, respectively. These halvings have had a historical impact on the price of Bitcoin, with significant surges occurring in the years following each event. The next halving is expected to take place in April 2024, and many Bitcoin advocates are optimistic about the price potential in that year. It’s worth noting that the maximum supply of 21 million bitcoins is projected to be reached around 2140. Overall, Bitcoin’s halving events have played a crucial role in shaping its price cycle and maintaining its scarcity.