The IRS deems Bitcoin property, not currency:

In a notice, the IRS said that it generally would treat bitcoin held by investors much like stock or other intangible property. If the virtual currency is held for investment, any gains would be treated as capital gains…Notably, use of bitcoin in a retail transaction typically would be a taxable “event” for many buyers, requiring them to figure out the gain they had made on the virtual currency—and eventually pay tax on it.

If you waited to invest in BTC, you probably made the right move…

As Predicted, IRS Deems Bitcoin to be Property, Limiting Its Usefulness in Commercial Transcations | naked capitalism.

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