Bitcoin’s (BTC-USD) halving, a once-every-four-year event that divides the rewards for mining bitcoin and limits the number of bitcoin in circulation, occurred over the weekend. FS Investments Chief sector Strategist Troy Gayeski weighs in on the gains that could come to bitcoin prices post-halvening and more investors adopt crypto into their portfolios.
“Classically, wherever you have new supply constrained… and demand stays constant, you get higher prices. Bitcoin is an incredibly cyclical asset, we’d expect more upside,” Gayeski tells the Morning Brief. “The cautionary note, though, it’s unclear to everyone how much of that upside is priced in, because you had the ETF flows, the approval, the surge, and you already made new highs prior to the halving, which had never been done before…”
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