Microsoft stops accepting bitcoin as payment method due to volatility

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After months of tumultuous movement in its value, the most popular cryptocurrency in the world has seen massive gains in its value, followed by periods of steep decline, and so on. All this volatility has been enough to make Microsoft decide to stop accepting bitcoin as a way of adding money to your Microsoft account, at least temporarily.

As Bleeping Computer reports, multiple Microsoft employees have informed the publication that Microsoft has removed the cryptocurrency as a payment option. It's unclear if this will remain the case indefinitely, though the aforementioned employees state the move is temporary.

This is, of course, not the first time Microsoft has disabled the use of bitcoin on its platform after it first added the option back in 2014. Two years ago, the company did the same thing, although it immediately reversed the decision a day later, blaming the whole thing on an accident.

Microsoft is also not the only company to take similar steps in recent months. Steam famously stopped accepting bitcoin as well last month. Both tech giants blame the volatility of the currency as being the reason for the change, as sudden changes in value can not only lead to massive losses but may also erode consumer confidence as they haphazardly change prices to reflect the rapidly shifting exchange rates.

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Source: https://www.neowin.net/news/microsoft-to-stop-accepting-bitcoin-as-payment-method-due-to-volatility

Comments

"Microsoft stops accepting bitcoin as payment method due to volatility" :: Login/Create an Account :: 22 comments

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TomPosted:

to be 100% real here, I didnt even see a payment method for bitcoin. so this really doesnt change how im buying things.

KyloCruxPosted:

ps I didn't know they accepted bitcoin, either. But bitcoin is jsut too unpredictable. I sure would not feel comfortable accepting that as a valid method of payment.


Agreed. A much needed change. Glad they don't accept it.

DragonPosted:

I didn't know they accepted bitcoin, either. But bitcoin is jsut too unpredictable. I sure would not feel comfortable accepting that as a valid method of payment.

KyloCruxPosted:

I honestly did even know they accepted bitcoin!!

2019Posted:

Dang that's too bad. Btc had declined a lot.

WizardPosted:

1337rep Bitcoin has its pros & cons, its a very simple payment method yet very unpredictable in value.


Everything has its pros and cons.

Myself I don't think I will ever get into bitcoin

Mapwood6Posted:

RepBandit
Silky I'm suprised they ever accepted BTC as a payment method tbh.


Why? It was a form of currency in some countries but is no longer now, but still. People pay in btc like paypal


I wouldnt say as popular as paypal. But its doing well.

FamousPosted:

1337rep Bitcoin has its pros & cons, its a very simple payment method yet very unpredictable in value.


unpredictable is so right. Just watching the numbers drop now when they were doing good.

ScotPosted:

Bitcoin has its pros & cons, its a very simple payment method yet very unpredictable in value.

RepBanditPosted:

Silky I'm suprised they ever accepted BTC as a payment method tbh.


Why? It was a form of currency in some countries but is no longer now, but still. People pay in btc like paypal