The bitcoin halving that’s set to happen in Might might be like “rocket gas” for an already bullish asset, this in accordance to Anthony Pompliano, host of The Pomp Podcast.
Bitcoin halving is the strategy of slicing the provide of latest bitcoins by half, which happens each 210,000 blocks. Pompliano likened this course of to gold miners slicing their provide by half.
“In 2009, 2010, and into 2011, 50% of the gold miners mainly shut off their operations, so 50% of the incoming each day provide simply disappeared. It took a scare asset and made it scarcer proper at a time when all the traders are operating to it and the worth of gold would have gone increased,” Pompliano informed Kitco Information.
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