Bitcoin halving countdown! Will related stocks soar again?

moomooニュース米国株 wrote a column · Mar 22, 2024 11:05

This article uses auto-translation in part.

It will be the fourth time in 2024The 'halving' of bitcoinis approaching.Historically, the price of Bitcoin has often soared.In the previous halving on May 11, 2020, Bitcoin was at $8,750, and it experienced a surge of over 430% from $0.01 million 1,500 in October, five months later, to $0.06 million 1,300 in March 2021.

Bitcoin halving countdown! Will related stocks soar again?

The 'halving' of Bitcoin is an event that systematically reduces the rewards received by miners (this term is mentioned in Bitcoin's code). It occurs approximately once every four years, specifically every 0.21 million blocks of transactions. As the name suggests, the amount of Bitcoin received by miners per block reward is halved. When Bitcoin was launched in 2009, miners received 50 Bitcoin per block, but this reward was reduced to 25 in the first halving in 2012. In 2016, it became 12.5, in 2020 it became 6.25, and in 2024 it will be reduced to 3.125. Determining the exact date is difficult, so analysts are making predictions about when the halving will occur.

Related Stocks
Year-to-date, $Bitcoin (BTC.CC)$ , has shown an increase of over 55%. On the other hand, many related stocks have not performed as well as Bitcoin and have experienced declines.

Year-to-date, $MicroStrategy (MSTR.US)$ has achieved an increase of over 133%.is the world's largest Bitcoin holding company.On March 18, the company announced the issuance of convertible bonds totaling 600.375 million dollars (about 9180 million yen) and completed the issuance on the same day. The raised funds were all used to make additional purchases of bitcoin, acquiring 9245 BTC. These are convertible bonds with a maturity date of 2031 and an annual interest rate of 0.875%, as previously announced by MicroStrategy. According to MicroStrategy's former CEO Michael Saylor, the average price of bitcoin purchased this time was 60,738.2 dollars. At the time of purchase, the total number of bitcoins held by the company will be 210,424.6 BTC, accounting for 1.02% of the total bitcoin supply.

Also, $CleanSpark (CLSK.US)$ Over 90%, $KRAKEN ROBOTICS INC (KRKNF.US)$ Over 68%, $Coinbase (COIN.US)$ Over 67%, outperforming Bitcoin.

On the other hand, some stocks such as Koss Corp have experienced a decline of over 32% year-to-date. $Bit Digital (BTBT.US)$ There are also stocks like Australia.

According to Mitchell Askew, Chief Analyst at Block Inc Solutions, companies that purchase efficient machinery during bearish markets can continue operations at low electricity costs, enabling most publicly listed mining companies in the USA to generate profits.

According to the founder of Hash Lab Mining and Chief Mining Strategist Jarlan Merold, the 3-4 months after the Bitcoin halving scheduled for April 20th may be an important period for mining companies listed in the USA. He believes that some high-cost mining companies may consider moving overseas in order to maintain profits.

However, analyst Mitchell Ascue of Blockware Solutions disagrees, stating, "It is unreasonable to think that the halving will push mining companies into an unprofitable situation," and claims, "They are doing everything possible to keep energy costs low and are acquiring the latest generation of hardware in preparation for the decreasing block rewards."

Source: CoinDesk Japan, CoinPost, Cointelegraph, Bloomberg, moomoo
moomoo News Zeber
This article uses auto-translation in part.

Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only. Read more

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