| Halving | Year | Block Reward | Actual Peak | S2F Target | Cycle Gain |
|---|---|---|---|---|---|
| 1st | 2012 | 25 BTC | $1,242 | $800 | +8,000% |
| 2nd | 2016 | 12.5 BTC | $19,783 | $10,000 | +3,000% |
| 3rd | 2020 | 6.25 BTC | $69,000 | $55,000 | +750% |
| 4th | 2024 | 3.125 BTC | TBD | $100,000–$250,000 | TBD |
| 5th | 2028 | 1.5625 BTC | Future | $500,000+? | ? |
The Bitcoin Halving is a programmatic event that cuts the block reward (new BTC issued) in half every 210,000 blocks (~4 years).