After months of anticipation, Bitcoin’s 2020 block reward halving happened on May 11 when block 630,000 was mined, Forbes reports.
Contained in block 630,000 was the message “NYTimes 09/Apr/2020 With $2.3T Injection, Fed’s Plan Far Exceeds 2008 Rescue,” referencing a similar message hidden in the first Bitcoin block ever mined.
A halving is an event that halves the reward cryptocurrency miners receive for mining blocks — or processing transactions, in layman terms.
Bitcoin halvings take place approximately every four years, making this latest halving the cryptocurrency’s third since its 2009 inception.
Similarly to how the values of foreign currencies react to monetary policy decisions by central banks, analysts are expecting the value of Bitcoin to react to the halving.