Second Bitcoin Halving
Bitcoin's second block reward halving: 25 → 12.5 BTC. By this time, Bitcoin had matured significantly, with growing adoption, institutional interest, and a much higher market price.
This event is part of Bitcoin history — See the full Bitcoin timeline
The Second Halving
On July 9, 2016, at block #420000, Bitcoin's block reward was halved from 25 BTC to 12.5 BTC. By this time, Bitcoin had grown significantly from its early days — the network hadhrate increased exponentially, and the ecosystem included exchanges, wallets, payment processors, and a vibrant development community.
The second halving occurred against a backdrop of growing mainstream awareness. Bitcoin was trading around $650 at the time, and the market had matured substantially since the first halving.
Market and Network Impact
Block Reward Before
25 BTCBlock Reward After
12.5 BTCBTC Price at Halving
~$650Market Cap
~$10 billionNext Halving At
Block #630000 (2020)In the 18 months following the halving, Bitcoin's price would rise to nearly $20,000 in December 2017, driven by the ICO boom and retail speculation. This cycle cemented the 'halving → bull run' narrative in Bitcoin folklore.
