Halved.

The 3rd block reward reduction comes as more eyes than ever are trained on bitcoin.

Happy Monday, Blockfolians

The Lede

Well, there it is. For the third time in its young life, the bitcoin block reward has been cut in half -this time, from 12.5 BTC to 6.25 BTC.

JPMORGAN WARNS: There's a 'fairly high risk' bitcoin could get cut ...

For months, there has been a debate raging about whether or not the halving was priced in. We ran a series of poll questions inside the app about what people thought about halving.

Last week, the conversation received a new push into the financial mainstream when legendary hedge funder Paul Tudor Jones came out with his strong pro bitcoin thesis.

The Tudor Jones news was a good reminder that the halving point isn’t only significant for its impact on the business model of miners that secure the bitcoin network, but as a schelling point that creates narrative context for new market entrants.

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Highly Relevant Reading


Community Commentary

Vijay tries to settle the “is it priced in?” debate once and for all. Unfortunately we’ll probably be debating this all the way to 2024 and beyond.
Monetary economist JP Koening looks at the prospect of a Fedcoin. Good read for anyone interested in the emergent area of central bank digital currencies.

A Really Big Number We Should Be Paying Attention To

1-2%

That’s the percentage of his assets that Paul Tudor Jones has in bitcoin, as revealed on CNBC this morning. That’s a big chunk, when you consider he’s worth more than $5b.


Final Thought

Ex Treasury Secretary Lawrence Summers says the problem with money is that there is too much privacy. Yeahhhhh, not so sure about that one, Larry.