According to several employees, Microsoft will no longer accept bitcoin as a payment instrument. Customers, however, still have the ability to replenish their Microsoft accounts with BTC. The unstable state of the world’s most popular cryptocurrency is cited to be the main reason for this decision. High volatility of the crypto market can eat a substantial portion of corporate profits in no time, an issues Microsoft most certainly doesn’t want to deal with. When using bitcoin, problems can arise on the customer side, as well. Three years ago, the transaction fees were on average 100 times lower, now they are getting close to $20 per transaction.
Bill Gates, the man behind Microsoft, has expressed his support for bitcoin in the past. The corporation has adopted bitcoin back in 2014, when it was neither expensive, nor widely recognized as a mean of payment. The decision makes the future of bitcoin even murkier. With even big companies not wanting to process payments in BTC the fate of bitcoin transactions between customers and small retailers seems to be predetermined.
Can it be the beginning of the end for bitcoin? When Microsoft, one of the world’s leading innovators, dumps the idea of bitcoin as a payment instrument, it probably means that the method is unpromising. On the other hand, the inability to actually pay with bitcoins has never been the problem for the overheated cryptocurrency market. The BTC price has appreciated stunning 1897% in 2017.
Update: since then, bitcoin has made its way back to the Microsoft Store. Users once again have the possibility to purchase from Microsoft using the world’s premiere cryptocurrency.Trade on BTC/USD now
NOTE: This article is not an investment advice. Any references to historical price movements or levels is informational and based on external analysis and we do not warranty that any such movements or levels are likely to reoccur in the future.
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