Glassnode: After Bitcoin halving, the inflation rate is significantly lower than gold! What's the impact?

This site (120bC.coM): The fourth Bitcoin halving was completed on the 20th of this month, and the block reward dropped from 6.25 BTC to 3.125 BTC. According to a report by cryptocurrency data analysis company Glassnode, Bitcoin’s annual inflation rate after the halving has been significantly lower than gold.

The Bitcoin inflation rate dropped to 0.85%, which is far lower than gold’s 2.3%

The average block interval of the Bitcoin network is maintained at about 10 minutes, and the block reward is also every 10 minutes Issued once every minute. It can be seen from this that before the fourth halving event, 900 Bitcoins can be generated every day, and the annual inflation rate is about 1.7%. After the halving event, 450 Bitcoins can be generated every day, and the annual inflation rate has dropped. To about 0.85%, this value is significantly lower than gold’s 2.3% annual inflation rate.

Comparison of inflation rates between Bitcoin and gold

In addition, many people believe that the divisibility and portability of Bitcoin are incomparable to other precious metals. Comparable. Coupled with the fact that Bitcoin's inflation rate after the fourth halving is significantly lower than gold, this highlights its status as the scarcest asset and further strengthens its influence as "digital gold."

Glassnode Analyst: The halving event is just a narrative game and not important

However, some analysts believe that the impact of the halving event on Bitcoin transaction volume is not significant, Glassnode’s report Wrote: Issuance represents only a small portion of the on-chain transfer, spot and derivative volume we see today, equivalent to less than 0.1% of the total capital transferred and traded on any given day. As a result, the impact of the Bitcoin halving on the available transaction supply diminishes across cycles, not only because of the reduction in the number of Bitcoins mined, but also due to the expansion of the assets and ecosystem surrounding it.

At the same time, James Check, chief analyst of Glassnode, tweeted on the X platform: Bitcoin halving is just a "narrative game" and it really doesn't matter.

But of course, not every analyst holds the same view. After all, it is a clear fact that the output of new BTC has decreased. With the launch of ETFs and the adoption of more financial institutions, more and more people around the world will surely begin to understand this asset. The halving narrative will still have an impact on their investment decisions. will play a key role.

It is also worth mentioning that ViaBTC has only recently auctioned the first "Epic Satoshi" after Bitcoin's fourth halving, and the current price is 5.5 BTC ($353,394), an increase of up to 550 million times. However, before the development of Ordinals, we did not have the concept of grading intelligence, and this artificial difference may be one of the "narrative games" mentioned by James Check.

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