The value of a single bitcoin continues to fluctuate amid currency exchange closures and increased interest from regulators around the world.
The value of a single bitcoin increased by about 40%, to around $630, in Q2 2014, according to CoinDesk's Bitcoin Price Index. That follows a drop of around 50%, from around $900 to $450, in Q1 2014. The value of a single bitcoin hovered between $600 and $640 in the first week of July.
Mt. Gox, at times one of the world's largest bitcoin exchanges, experienced a prolonged outage in February in which users were unable to withdraw their bitcoins. Mt. Gox filed for bankruptcy on Feb. 28. Uncertainty surrounding Mt. Gox contributed to bitcoin's decline in Q1 2014.
Bitcoin rapidly increased in value in the final months of 2013, going from around $100 in October 2013 to more than $1,200 in November 2013. The value of a single bitcoin briefly surpassed the value of gold on Nov. 29, 2013, reaching $1,242 to a single ounce of gold's $1,241.98.
"Clearly, bitcoin is no longer a penny stock. It's playing in the big leagues — a share being worth more than a share of Google or Apple, and even more then an ounce of gold." Erik Vorhees, SatoshiDice founder
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