Bitcoin Price in 2014
- Beginning of year Price: $770.44
- Highest Price: $951.39 on January 6, 2014
- Lowest Price: $309.87 on December 30, 2014
- End of year Price: $319.70
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Major Events in 2014
February 2014 - Mt. Gox Collapses: Bitcoin's First Major Exchange Catastrophe
Mt. Gox, one of Bitcoin's largest exchanges, declared bankruptcy in February after losing 744,000 BTC in a massive security breach.
The collapse shook confidence in early exchanges, underscoring the need for improved security and regulatory oversight in the crypto industry.
March 25, 2014 - IRS Declares Bitcoin as Property: New Tax Rules for Cryptocurrency
The IRS ruled that Bitcoin would be taxed as property, not currency, setting a precedent for how digital assets are treated for tax purposes in the U.S.
June 2014 - BitPay Sponsors St. Petersburg Bowl: Bitcoin in Sports Sponsorship
BitPay became the sponsor of the St. Petersburg Bowl, renaming it the 'Bitcoin St. Petersburg Bowl' and marking a notable moment for Bitcoin's visibility in sports.
September 2014 - First Bitcoin Swap Product Approved: CFTC Breaks Ground on Bitcoin Financial Products
With CFTC's approval of TeraExchange's Bitcoin swap, Bitcoin gained a foothold in regulated financial products, allowing for more institutional investment and a step toward integrating Bitcoin into mainstream finance.
December 11, 2014 - Microsoft Embraces Bitcoin: BTC Accepted for Xbox Games and Windows Software
Microsoft's acceptance of Bitcoin for Xbox games and digital products made it one of the largest tech companies to support Bitcoin, reinforcing its legitimacy as a payment option in the digital marketplace.