Coinbase is advertising and promoting the Bitcoin halving event.

Jafar224

Bitcoin halving event is approaching, and the cryptocurrency exchange Coinbase is hyping up this event with a new advertisement.

Promoting the Halving
The platform posted a video on Twitter, showcasing the ability of Bitcoin to increase in value over time by purchasing pizza with Bitcoin.
“Over time, your money gets you less. Does Bitcoin?” the ad’s narrator asks.

Food for thought:
What if money was designed to get you more over time, not less? Back in 2010, early Bitcoin adopter Laszlo Hanyecz bought two pizzas for 10,000 Bitcoins, widely regarded as the first use of Bitcoin as a medium of exchange. By 2012, one Bitcoin could buy a pizza, and by 2020, the value of Bitcoin had soared to thousands of dollars per coin.

Coinbase states, “Approximately every four years, Bitcoin's future supply is reduced.” “So historically, you get more, not less. Bitcoin drives currency forward.”

The "Bitcoin halving" mentioned by Coinbase refers to the halving of Bitcoin's supply issuance rate every 210,000 blocks. The next Bitcoin halving is set to occur at block 840,000, approximately in 4 days, which will reduce the Bitcoin block reward from 6.25 BTC per block to 3.125 BTC.

This effectively reduces Bitcoin's inflation rate to well below that of gold, which Bitcoin supporters often compare it to as a reliable scarce store of value. Historically, this event has been accompanied by a sharp increase in the price of Bitcoin roughly 12 to 18 months later, theoretically due to subsequent supply tightening.

While this means their income will decrease in the short term, Bitcoin miners are optimistic about this event.

A spokesperson for IREN told Cryptonews last week, "The supply shock triggered by halving is historically related to exponential growth in Bitcoin prices, which offsets the impact on miner income."

TD Bank Follows Suit
Coinbase is not the only company advertising the halving: multinational bank TD also released an advertisement last week, emphasizing how Bitcoin halving causes supply tightening.

The ad states, "Bitcoin is designed to create only 21 million coins, but it doesn't flood all the coins into the market at once, instead slowly releasing new coins into the market every day."

In contrast, Coinbase released a report last year stating that the halving's impact on Bitcoin's price is not as significant as people imagine, with the cryptocurrency market being more influenced by macroeconomic cycles.

Kapil334

It's essential to take a look at the basic theory, isn't it?

Shri333

Although the theory sounds impressive, I still won't.

Samiksha

This promotion will certainly not be lacking.