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Bitcoin halving to boost its appeal as inflation hedge

Reduction of cryptocurrency's supply comes as central banks open money spigots

Some investors expect bitcoin to buck the inflation trends affecting global currencies during the coronavirus pandemic.   © Reuters

TOKYO -- Bitcoin has drawn renewed interest from investors seeking inflation-resistant assets at a time when central banks are printing more money to prop up flagging economies.

Supplies of the virtual currency were halved at around 5:00 a.m. Tuesday, Japan time, a feature that is built into its algorithm and occurs every four years. Now, only one-eighth the number of bitcoin will be rewarded to miners compared with to the amount at the crytocurrency's inception.

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