CEO POV: The Next Bitcoin Halving

When bitcoin first started in 2009, the system started at 50 coins mined every 10 minutes. Two halvings later, 12.5 bitcoins are currently being dispensed every 10 minutes. For the upcoming bitcoin halving that will take place this month, the total number of bitcoin mined by miners per block will be reduced from 12.5 BTC to 6.25 BTC.

Everyone’s looking to get ahead of this upcoming halving, asking: Are we in for some massively bullish price action for bitcoin? Can it break that 200-day moving average? Is a crash coming? And what does this mean for the crypto ecosystem as a whole?

We asked some of the most trusted execs in the crypto space to give us some insights:

Diogo Monica, President of Anchorage says: “Fiat holds value by decree. Bitcoin holds value by design. With the halving happening amidst a flood of central bank money printing, it will be fascinating to see how the markets value inherently scarce resources like Bitcoin.”

Catherine Coley, CEO of Binance.US says: “In 2016, I didn’t participate in the halving and all things considered, it was a minor event. The real rally happened 18 months later. On the whole, I’m bullish on Bitcoin long-term, whether not this event changes the prices noticeably or not. With unemployment and stimulus funding flooding our USD system, I think more people are looking for an alternative exposure to a market that’s unrelated to USD.

Brian Norton, COO of MEW (MyEtherWallet) says: “The halvening is coming at an interesting time for the crypto ecosystem. Like previous halvenings, we can expect it to bring new users into the space. What’s going to be different this time is that it will coincide with a proliferation of cross-chain projects -WBTC, Ren, pBTC, tBTC – that will allow for BTC to be traded and utilized in DeFi protocols on Ethereum. It’ll be interesting to see in the near term how much demand for BTC will be driven by these use cases on Ethereum.”

Alex Mashinsky, CEO of Celsius Network says: “The halvening is an important event for Bitcoin, but it’s just one element in the perfect storm that BTC is enjoying at the moment. Governments around the world are implementing unprecedented fiscal stimulus, which risks causing high inflation across fiat currencies, which reinforces Bitcoin’s value proposition as a deflationary asset. As a result, many first time retail investors are flocking to BTC as a way to protect their wealth.”