Bitcoin has just experienced a quadrennial event called the halving. It comes at a time when the digital currency was already surging. Dale De La Rey/AFP via Getty Images hide caption toggle caption Dale De La Rey/AFP via Getty Images Business A big thing has just happened to Bitcoin. It's called the halving April 16, 2024 Bitcoin has just hit a quadrennial event called the halving. It will effectively reduce the supply of new bitcoin in half — and some believe it will spark a huge rally.