Michael Venuto, CIO and Co-Founder of the Tidal Financial Group & Portfolio Manager of the Amplify Transformational Data Sharing ETF [BLOK], discusses the upcoming bitcoin halving, which is due in April or May of 2024.
Halving is a periodic event in which the amount that bitcoin miners are paid per bitcoin mined is halved, meaning that the value of mining new bitcoins will, eventually, approximate to zero.
“It’s impossible for it not to have an impact,” he says. “It’s how the miners are compensated, and if they’re getting half as much bitcoin, that’s a big haircut. Knowing that you’re going to expend essentially the same amount of resources to receive half as much of the commodity you’re producing — that’s got to shake out the market in some way.”
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@robertlevi3202
11 months ago
Yep
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