- UPDATE: Microsoft is once again accepting Bitcoin
Cryptocurrency enthusiasts have been seeing many new companies come onboard the crypto train lately. Unfortunately, there have also been some companies backing out. For example, Microsoft recently announced it will no longer be accepting Bitcoin.
Microsoft has ceased its Bitcoin funding method offered to its clients. Emails have already been sent to all the company’s clients who may be affected by this funding issue. It appears that, before this official announcement, there was a lot of speculation already going on in social media, based on bits of information gathered in advance.
A Microsoft representative answered an online inquiry with this explanation, “Microsoft is no longer accepting Bitcoin in exchange for credit on the customer’s account. The “Redeem Bitcoin” link on Account.Microsoft.com has been removed, so customers like you will no longer see the option. Previous redeem error information has been removed from this post.”
The company has halted acceptance of Bitcoin credit deposits. Microsoft personnel are not allowed to share the reasons the company decided to issue this reversal. However, from reading discussions with various employees throughout different forums, it looks as though the decision was made due to operational problems.
Price fluctuations, lengthy transaction times, and high fees are some of the issues standing in the way of more companies adopting Bitcoin, and there have been further problems to deal with as of late, including government intervention in several countries.
However, despite Microsoft’s actions, Bitcoin is still accepted by many other large retailers including, Overstock.com, Expedia, Newegg, Shopify and Dish Network. Word has it that other large companies are also looking into the possibility of accepting Bitcoin, or another form of digital money. This includes Amazon, who bought three cyryptocurrency related domain names back in November.
If Amazon ends up accepting Bitcoin, it would most likely cement Bitcoin as the top digital currency forever. Likewise, if Amazon chooses to accept another form of digital currency, that cryptocurrency may be boosted to the top spot.