Bitcoin Price in 2012

Beginning of year Price: $5.27
Highest Price: $13.70 on December 13, 2012
Lowest Price: $4.10 on January 10, 2012
End of year Price: $13.51

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Major Events in 2012

March 1, 2012 - Linode Hacked: 43,554 BTC Stolen

In March, cloud hosting provider Linode was hacked, resulting in the theft of 43,554 BTC, including funds belonging to Bitcoin lead developer Gavin Andresen.

This breach underscored the security risks surrounding Bitcoin at the time and highlighted the need for stronger protections in digital asset storage.

May 12, 2012 - Bitcoinica Breach: Major Exchange Hack

Bitcoinica, one of the first Bitcoin exchanges, suffered a security breach, leading to the theft of over 18,000 BTC.

Facing legal challenges and financial strain, the exchange eventually shut down.

This incident brought attention to the vulnerabilities in Bitcoin trading infrastructure, raising concerns about the security of early Bitcoin exchanges.

September 22, 2012 - Bitcoin Foundation Launched: A Non-Profit to Promote Bitcoin

Gavin Andresen and other key figures launched the Bitcoin Foundation to promote Bitcoin's development and global adoption.

This non-profit aimed to support Bitcoin's standardization, protection, and education efforts.

The foundation's launch provided a formal structure for Bitcoin advocacy, marking a step toward the currency's mainstream legitimacy.

November 15, 2012 - WordPress Accepts Bitcoin: First Major Company Adoption

WordPress became the first major company to accept Bitcoin for payments, partnering with BitPay to allow users to pay for upgrades with BTC.

This milestone showcased Bitcoin's utility as a payment method and helped normalize its use among online businesses.

November 28, 2012 - First Bitcoin Halving: Mining Rewards Reduced from 50 to 25 BTC

The first Bitcoin halving took place on November 28, reducing the mining reward from 50 BTC to 25 BTC per block.

This event, designed to control Bitcoin's supply, emphasized its deflationary model and was closely watched by the community.

With this halving, Bitcoin's scarcity model became more apparent, influencing its value proposition as a store of value, similar to precious metals.