With Bitcoin’s next halving about 500 days away, annual new issuance after the halving is expected to fall to roughly half its current level.
According to Bitcoin Treasuries, Bitcoin’s current annual new mining output is approximately 164,000 BTC, and this will decline to about 82,000 BTC after the next halving. Bitcoin is structured so that its block reward is cut in half approximately every four years.
The approximately 82,000 BTC newly supplied during the year after the halving would amount to less than 10% of the 849,327 BTC currently held by Strategy.
Bitcoin Treasuries explained that the reduction in new mining output could further constrain Bitcoin’s supply. However, the halving itself does not necessarily lead to a market supply shortage or higher prices, as actual prices are also affected by selling from existing holders and market demand.