Jaan Lainurm, chief investment officer at blockchain-focused venture capital firm Vereeni Investments, comments on tomorrow’s Bitcoin ‘Halvening’: 

“The Halvening – the once-every-four-years halving of the total number of Bitcoins added to the global supply every ten minutes – is likely to occur tomorrow. It could have a profound effect on the future of the world’s most valuable cryptocurrency.

“The last time this happened was in 2016, it preceded a bull run which drove Bitcoin’s price close to $20,000. But a repeat this time is far from guaranteed; Bitcoin has struggled alongside other assets in recent weeks, at one point losing half of its value in the space of a few hours against a backdrop of global, COVID-19 related uncertainty. 

“However, investors will be buoyed to have seen it recover most of those losses over the past few weeks. Those concerned as central banks around the world scale QE programmes may find Bitcoin’s fixed supply appealing.

“The Halvening sounds just a little like the title of a slasher horror movie, and given the current economic climate, Bitcoin investors could well be watching tomorrow’s events unfold through their fingers.”