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2012 The first halving

Bitcoin passed its first scheduled supply cut, and the ecosystem began to professionalise with payment processors, a foundation and dedicated media.

Year-end price (approx.)

~$13

Block reward

50 → 25 BTC

First halving

Nov 28, 2012

What happened

1. 2012

   Bitcoin Magazine begins publishing, one of the first outlets devoted entirely to Bitcoin.

2. Sep 27

   The Bitcoin Foundation is announced to support development and promote the protocol.

3. Nov

   WordPress.com starts accepting Bitcoin payments, a notable early merchant milestone.

4. Nov 28

   The first halving at block 210,000 cuts the block reward from 50 BTC to 25 BTC.

Why it mattered

The halving proved that Bitcoin’s monetary schedule runs exactly as coded, with no committee approving the change.

Price by month

Bitcoin price on the first day of each month, in US dollars, with the change from the previous month.

• Jan$5.28+73%
• Feb$6.08+15%
• Mar$4.92−19%
• Apr$4.82−2%
• May$4.98+3%
• Jun$5.27+6%
• Jul$6.63+26%
• Aug$9.56+44%
• Sep$9.97+4%
• Oct$12.15+22%
• Nov$10.85−11%
• Dec$12.56+16%

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