On May 29th, it was reported that the Bitcoin inflation rate, after the halving event, is now 75% lower than the current inflation rate in the United States and 72% lower than the annual issuance of gold. The halving event in April had a significant impact on the issuance rate of cryptocurrencies, as the block reward decreased from 6.25 bitcoins to 3.125 bitcoins. Each halving event reduces the supply of new bitcoins, tightening the market supply and potentially increasing the value of the asset over time. Currently, approximately 450 bitcoins are mined daily, resulting in a Bitcoin inflation rate of about 0.84%, while the latest inflation data for the United States in May stands at 3.4%. The decrease in the Bitcoin inflation rate is an important milestone, as it is now even lower than the lower limit of the annual inflation rate for gold, which ranges from 1% to 3%. The issuance of gold mining leads to a 1% increase in supply, and recycled gold is also included in its inflation rate, resulting in a 9% inflation rate in 2023 and a net increase of 3% in the circulating supply of gold.
