Without a doubt, the main event that all eyes of the crypto world are focused on is the Bitcoin halving expected for May. However, the halving that has occurred in the Bitcoin SV and Bitcoin Cash chains in the past few days gives a preview of what might happen in BTC. Well, despite the decline in rewards for both currencies, mining companies like SBI Crypto have increased their stake in BSV mining.
Two halves in the crypto world
When it comes to halving Bitcoin in the next month, most users of the crypto world are optimistic. Why not? Especially if you have the precedent of the last two halves in the BTC blockchain. This increased the price of the cryptocurrency to a point where it reached around $ 20,000 in 2017.
With Bitcoin Cash (BCH) and Bitcoin SV (BSV), however, the story wasn’t all that sweet. Now that both cryptocurrencies have halved in the past few days, there has been no radical price hike. On the contrary, these coins have lowered their prices according to the trend set by Bitcoin.
Of course, this was a major blow to these cryptocurrencies. What their miners’ reward saw their rig run in half. Without compensation, they could enjoy a price increase for this reward.
SBI Crypto increases participation in BSV mining
Nevertheless, there are still big players in the crypto world who still rely on these cryptocurrencies. Also in view of falling profitability in mining.
This is the case with SBI Crypto, the cryptocurrency branch of financial giant SBI Holdings. This has increased his involvement in BSV mining since Halving on his blockchain.
If we look at the share of large Bitcoin SV mining operations, we can see how SBI Crypto has risen from a share of 4.4% last week to currently 15.28%. At the same time as the share of the smallest mining companies, it was greatly reduced.
This increase in SBI Crypto’s BSV mining stake is all the more interesting as Yoshitaka Kitao, CEO of SBI Holdings, and Craig Wright, the Bitcoin SV promoter who claims to be Satoshi Nakamoto, are closely related.
This could be a key factor in SBI’s commitment to cryptocurrency, even after halving. And the reason why we chose this here at CryptoTrend as our data today.