Reports suggest that Microsoft is not pleased with the volatile nature of Bitcoin, as well as the rising transaction fees. Consequently, Microsoft's decision to stop accepting Bitcoin means that customers can no longer add to their Microsoft account balance using Bitcoin.
Microsoft discontinues acceptance of Bitcoin
According to Bleeping Computer, much like Steam did last year, Microsoft has ceased accepting Bitcoin payments for its products. A Microsoft support staff member mentioned that this move by Microsoft is only temporary due to the volatility of Bitcoin.
The volatility of Bitcoin, coupled with the sharply rising associated transaction fees from $0.20 to $20, poses a significant risk for companies like Microsoft. The value of Bitcoin continues to fluctuate over time, and if Microsoft and other companies accept Bitcoin as a form of payment, they will face the potential for significant losses in case of any incidents.
There are currently numerous cryptocurrency exchanges for Bitcoin investors, each with its own advantages. It's crucial to choose reputable Bitcoin exchanges, highly regarded by many, over less-populated virtual currency exchanges.
While Microsoft's decision to stop accepting Bitcoin may be disappointing news for investors in this digital currency, for Microsoft's general customers, there's still satisfaction as Microsoft extends free Windows 10 upgrades until January 16, 2018, giving Windows users more time to decide on upgrading to the Windows 10 operating system.
