The most important event in the crypto industry, the next Bitcoin halving, is expected to happen on May 12, 2020. The event is bound to make a big impact on the industry, and CRYPTO.COM COO Eric Anziani has just indicated that. Anziani posted a thread on Twitter, in which he explained the importance of the Bitcoin halving, and how it will impact the price in the long run.
As we get closer to one of the most awaited technical events in the crypto space this year – #bitcoinhalving – I would like to share some thoughts on what it means for #bitcoin and the industry. [THREAD] pic.twitter.com/FRiqneNGyQ
— Eric Anziani (@ericnode) May 4, 2020
In one of the tweets, Anziani stated that halving of rewards to Bitcoin miners for 12.5 BTC to 6.25 BTC will ease the inflation from 3.68% to 1.8%, as this will reduce the supply of new Bitcoins in the market. This will put a long term and eventual upward pressure on BTC price, he added.
“Although not statistically significant, historical halvings have resulted in mid-to-long term price appreciation as well as price increases leading to the event. There were also unpredictable short term price movements following each event.”
As per a recent survey conducted by Crypto.com, reduced supply is the primary driver for positive price pressure, which is why halving could increase the digital gold narrative around Bitcoin, Anziani said.
Another important point that the COO made was that Crypto.com would offer Bitcoin at a 50% discount through the Syndicate platform on the exchange.
6/ One prediction that we can guarantee at https://t.co/bbHWVWkrFf is that we will be offering #bitcoin at 50% off on 12th May through our Syndicate platform on the https://t.co/bbHWVWkrFf Exchange. Do check it out: https://t.co/rUXdUBZJZd pic.twitter.com/Xsoq59b0P2
— Eric Anziani (@ericnode) May 4, 2020
At Crypto.com, we believe that programmable digital scarcity embedded in Bitcoin is irreplaceable, and a fundamental part of building a more inclusive token economics that benefits not only the 1% but the broader society.
