The Bitcoin halving is a programmatic event that occurs every 210,000 blocks (approximately every 4 years) and reduces the block reward paid to miners by 50%. It is hardcoded into Bitcoin's protocol and is a key driver of its deflationary supply model.
2012
First halving — block reward drops from 50 to 25 BTC
2016
Second halving — block reward drops to 12.5 BTC
2020
Third halving — block reward drops to 6.25 BTC
2024
Fourth halving — block reward drops to 3.125 BTC
Supply control mechanism — ensures Bitcoin's predictable, deflationary issuance schedule
💡 Did You Know
Each of the first three Bitcoin halvings was followed within 12–18 months by a new all-time high price
⚠ Controversies & Red Flags
Critics argue that once block rewards become negligible, transaction fees alone may not sufficiently incentivise miners, potentially threatening network security long-term.