2024 Bitcoin Halving in Canada & Worldwide

The highly anticipated 2024 Bitcoin Halving event is under a year away — with only 47,023 (at the time of writing) blocks remaining until the big day, the countdown is becoming more exciting for Bitcoin maximalists and those in the crypto trading spaces.

Scheduled to halve on Saturday, Apr. 27th, 2024 — the Bitcoin Halvening is a significant milestone in the history of crypto. Let’s step back — what exactly is the Bitcoin Halving, and why is it an important ‘thing’?

The BTC Halving, AKA the "Halvening", is a preprogrammed event embedded into the Bitcoin protocol. It occurs around every 4 years, and its purpose is to control the issuance of new bitcoins and to make sure to maintain a finite supply.

Watch this short video to help explain the importance of Bitcoin halvings.

During the halving the mining reward for successfully adding a new block to the Bitcoin blockchain is cut in half. This reduction in mining rewards has a profound impact on the rate at which new Bitcoins are created. As a result, the Bitcoin Halving plays a crucial role in regulating the inflation rate and maintaining the scarcity of Bitcoins.

The upcoming halving is estimated to occur in 326 days - with completion currently at ~77.6%. As the reward drop approaches, bitcoin miners’ and investors are on the edge of their seats as they anticipate the potential windfall on the BTC ecosystem — especially price movements, mining profitability, and the overall sentiment of markets.

Check out this live Bitcoin “Halvening” countdown clock website to keep an eye on the next big reward drop!

At MyBTC.ca, we understand the importance of the halvening for the crypto-community and its overall significance. Our goal is to provide Candians with the knowledge, insights, and tools to navigate the evolving cryptoscape successfully.

Make sure to mark your calendars for further updates. Together, let's explore the fascinating world of bitcoin and its upcoming halving — and seize the opportunities it presents.

Wishing you continued success in your Bitcoin activities leading up to the 2024 halvening and beyond!