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▲ Bitcoin (BTC), Halving/ChatGPT Generated Image
The number of blocks remaining until Bitcoin (BTC)'s next supply reduction event, the halving, has fallen below 100,034. This halving is expected to be a turning point, occurring for the first time amidst an environment of large-scale asset accumulation by massive institutions.
According to Bitcoin.com, a virtual asset media outlet, citing real-time data on May 19 (local time), the remaining blocks until the next Bitcoin halving benchmark, the 1,050,000th block, are about to drop below 100,000. This is a watershed moment where the block reward will decrease from 3.125 BTC to 1.5625 BTC. Based on the current average block generation time of approximately 10 minutes and 6 seconds, 100,000 blocks correspond to roughly 694 days, and the next halving is projected to occur between April 17 and 19, 2028. The Bitcoin network has currently passed 52% of its 4-year halving cycle.
The halving due in 2028 will have a completely different market structure from previous events in 2012, 2016, 2020, and 2024. Past halvings occurred before the large-scale presence of spot ETFs in the US market, but this time, it unfolds amidst historical levels of asset accumulation by institutions.
Currently, Strategy holds 843,738 BTC, and BlackRock has secured 817,138 BTC, with the total holdings of these two institutions alone amounting to approximately 7.9% of Bitcoin's total supply limit of 21 million. Such unprecedented institutional capital inflow, coupled with the supply reduction event, is analyzed to create unique market dynamics.
On the other hand, the mining industry is expected to face the most intense pressure ever. As block rewards decrease to 1.5625 BTC, mining companies unable to lower their all-in production costs below this level will face severe margin pressure, regardless of Bitcoin's price movements.
Historically, immediately after a halving, there has been a restructuring where inefficient mining companies are eliminated, or profitability is restored as prices recover. However, Bitcoin's hashrate has been setting new all-time highs through 2025 and into 2026, making mining competition fiercer than ever. For long-term investors, entering this 100,000-block countdown serves as a reminder of the core algorithmic mechanism that underpins Bitcoin's scarcity.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
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