As the highly anticipated halving event approaches this weekend, Bitcoin enthusiasts are gearing up for what promises to be an unprecedented celebration of the cryptocurrency’s meteoric rise. With Bitcoin’s price skyrocketing sixfold since the last halving and nearly 100 times since 2016, anticipation is at an all-time high.
This halving, poised to be the most expensive ever, is expected to set new records in miner rewards thanks to the introduction of the on-chain Runes launch and the debut of a new ‘Epic Sat’ valued at a minimum of seven figures USD.
From lavish parties spanning the globe to sold-out warm-up destination events commanding ticket prices upwards of $800, the fervor surrounding Bitcoin’s halving knows no bounds. Bitcoiners are even engaging in impromptu ‘futures’ trading, speculating on payouts from the first post-halving block.
Bitcoin halving: Improved stock-to-flow plus numismatics
For those unfamiliar, Bitcoin’s halving occurs every four years and involves halving the coinbase reward of each new block added to the blockchain. This Saturday, the reward will decrease from 6.25 to 3.125 bitcoin per block, impacting miner income while leaving optional transaction fees unaffected.
Despite the potential hit to miner revenue, the halving bodes well for Bitcoin’s stock-to-flow ratio, a crucial metric for investors assessing commodity value. This particular halving event is unique in that it not only bolsters the stock-to-flow metric but also drives short-term revenue for miners.
What sets this halving apart is the unprecedented financial speculation surrounding numismatics. Traditionally, halvings haven’t seen significant interest in the numismatic value of Bitcoin. However, this year, post-halving blocks are attracting multi-million dollar bids from numismatic enthusiasts.
Led by Casey Rodarmor and his team, a thriving marketplace for rare and inscribed satoshis has emerged, with bids reaching into the billions. The introduction of Rodarmor’s fungible token protocol, Runes, has further fueled speculation, with traders eyeing the staggering value of the Epic Satoshi token.
As collectors and speculators converge on this weekend’s halving festivities, it’s clear that this year’s event is unlike any other in Bitcoin’s history. With a growing community of enthusiasts and investors, fueled by the cryptocurrency’s remarkable ascent, the celebration promises to be the most extravagant yet. From Ordinals to BRC-20 tokens, Bitcoiners have ample reason to toast to this momentous occasion.