- There are growing calls for a mass community BTC buy-in.
- The grassroots movement is gaining support.
- The Bitcoin halving is delayed.
As April heralds the imminent Bitcoin Halving, the community is abuzz with anticipation for the impending supply shock and its potential price effects. With Halving Day fast approaching, a burgeoning movement is encouraging Bitcoin enthusiasts to purchase $21 worth of BTC on the day.
$21 BTC Buy Challenge
The Bitcoin challenge emerged on the r/Bitcoin subreddit on February 19, with the original poster urging fellow Bitcoin enthusiasts to collectively make $21 purchases on Halving Day to “see what’s going to happen.” The idea received a positive reception, with the post eliciting 375 upvotes and 237 comments so far.
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In reply to the post, many commenters supported the challenge, with one user replying, “Put it in your calendar,” while another jokingly asked, “Is this insider trading? because I’m down.”
Reflecting the light-hearted nature of the post, others suggested expanding the challenge beyond $21, with $690 recommended as the new buy-in amount. This suggestion was quickly shot down in favor of 69 BTC instead. At today’s price, 69 BTC would equate to approximately $3.6 million.
The $21 BTC challenge thread captures the general upbeat sentiment among Bitcoiners as the halving approaches.
Bitcoin Halving Delayed
The halving kicks in after every 210,000th block has been written, which occurs around every four years. Based on the current block generation rate, the halving is scheduled to occur on April 22. Last week, due to a quicker block generation rate at the time, the halving was scheduled to occur on April 15.
On the Flipside
- Retail investors exert a diminishing impact on the BTC price, diminishing the potential significance of a mass community buy-in on Halving Day.
- The supply of new Bitcoin entering circulation will be cut from 900 daily to 450 post-halving.
Why This Matters
While the $21 challenge is unlikely to influence price directly, it still underscores Bitcoin’s enduring popularity among crypto enthusiasts. Grassroots backing in cryptocurrency has consistently proven to be a potent force, forming the foundation for vibrant communities.
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Read about the Bitcoin halving fueling bullish sentiment here:
Bitcoin Halving and Stablecoin Boom Fuel Optimism of an ATH
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