On May 29th, it was reported that the halving Bitcoin inflation rate is now 75% lower than the current US inflation rate and 72% lower than the annual issuance of gold. After the April Bitcoin halving, the block reward was reduced from 6.25 bitcoins to 3.125 bitcoins, which had a significant impact on the issuance rate of the cryptocurrency. Each halving event decreases the supply of new bitcoins, tightens the market supply, and may increase the value of the asset over time.
Currently around 450 bitcoins are mined per day, and Bitcoin currently has an inflation rate of around 0.84%, compared to 3.4% in the latest US inflation data for May. The decrease in Bitcoin inflation is an important milestone, as it is now even below the lower end of the gold annual inflation rate, which is between 1% and 3% per year. Gold mining issuance results in a 1% increase in supply, while recycled gold is also factored into its inflation rate, which is 9% in 2023, resulting in a net 3% increase in the supply of gold in circulation.
Forbes: Bitcoin Inflation Rate After Halving Is 75% Lower Than Current US Inflation Rate
2024-05-29 11:24:22
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