What is Bitcoin Halving? In mining Bitcoin, its reward to miners is halved almost every four years. The reason for this is the decrease in the supply of Bitcoin, and as you know, the scarcity of an asset makes it more valuable. Bitcoin bears a significant resemblance to gold because it becomes harder to mine over time. There will be only 21 million bitcoins, and over 18 million have already been mined.
The supply of Bitcoin is limited, and once 21 million bitcoins are mined, the production network will halt. For this reason, many refer to Bitcoin as digital gold! Like gold, Bitcoin has a finite supply, and eventually, all bitcoins will be mined.