Marathon Digital had collapsed 25% in a month; the Valkyrie Bitcoin Miners ETF had dropped 28%; and Riot Platforms saw a 30% decline. As participants moved to mint Runes, Bitcoin network fees spiked to $19 on April 18. The event slashed Bitcoin block rewards from the previous 6.25 BTC per block to the current 3.125 BTC, effectively reducing Bitcoin’s inflation rate by half.
Despite this stance, Marszalek maintained that the Bitcoin halving would be bullish for BTC long-term. Interestingly, a day after these remarks, Bitcoin witnessed a massive drop, collapsing to a floor of $59,600 on April 17 before recovering to $61,277. In line with the remarks from Bitwise CIO Hougan and Crypto.com CEO Marszalek, crypto prices saw a mild decline immediately after the halving occurred.
Any application would have to go through a vetting process from the SFC before launch. However, the bills are yet to become full-blown legislation. According to Blackburn, who favored Bitcoin, CBDCs pose privacy risks to U.S. citizens.
Also, Norway took an aggressive stance against crypto mining this week.
