“Halving” will cut the amount of bitcoin that can be mined from roughly 900 per day to 450, making the asset even scarcer while providing a deflationary measure to bolster it as a store of value. Bitcoin investors own bitcoin because they believe it will rise in value, and next year’s halving event – if history is any indication – may very well deliver this. In the past, bitcoin has rallied the year ahead of halvings; bitcoin rose by 19% in the 12 months leading up to its last halving on May 11, 2020, while the halving before that in 2016 saw a 142% increase.