Anthony Pompliano Praises Bitcoin (BTC) Transparency and Predictability
Morgan Creek Digital co-founder, Anthony Pompliano, is one of the most active Bitcoin maximalists in the cryptocurrency ecosystem. He has dished out thousands of tweets to promote the largest cryptocurrency by valuation.
He took Twitter a few hours ago, after the most-anticipated event in the crypto space, third Bitcoin halving, successfully occurred, to praise the transparency and predictability of Bitcoin (BTC).
In the tweet, Anthony Pompliano wrote, “The third Bitcoin halving successfully occurred. Bitcoin is the most predictable, transparent monetary policy in the world.”
The third Bitcoin halving successfully occurred.
Bitcoin is the most predictable, transparent monetary policy in the world.
— Pomp 🌪 (@APompliano) May 11, 2020
Block Reward Number 630,000 Mined, 2020 Bitcoin Halving Is Here
After months of continued discussions and speculation in the cryptocurrency community, the third-ever Bitcoin halving finally occurred a few hours ago, as the Bitcoin network produced block number 630,000.
As expected, the Bitcoin halving will reduce the daily supply, the inflation rate, and the block rewards for miners. There are also expectations for the halving to make investors smile to the bank by positively impacting the price of the digital currency.
In a nutshell, Bitcoin halving brings a notable amount of pre-programmed changes that will have huge effects on miners, traders, and investors.
So, until the next batch of 210,000 blocks is produced, Bitcoin miners will be receiving 6.25 BTC per block instead of 12.5 BTC. As their rewards are reduced by half, mining will surely not be profitable as usual, which would discourage many miners. As it played out in the past, this scenario is expected to initiate a scarcity of BTC, hence the significant increase in price.
Bitcoin (BTC) Price in the Market
The price of Bitcoin (BTC) has managed to react positively to the occurrence of 2020 halving by experiencing price resurgence from the dip it initially embarked upon.
Obviously, there are significant expectations packed for this post-halving, as many long-term investors expect Bitcoin price to experience exponential increase. At the time of publication, BTC is trading at $8,723.80, with a 0.37% price increase based on 24 hours estimation.