Why Did Microsoft Stop & Then Start Accepting Bitcoin Payment Deposits

With the popularity of Bitcoin growing, more and more companies are starting to accept it as a form of payments for their services. Because of this, it is being more and more easy to pay for goods and services using Bitcoin.

Microsoft, on the other hand, is going on the opposite direction and has stated that since December 26, Microsoft will not be accepting Bitcoin as a way of payment anymore. This means that clients which were paying for services using Bitcoin will have to use fiat currencies again or they might risk losing their services.

The company has recently sent an email explaining that all options for paying with Bitcoin will be removed.

The Issues With Bitcoin

Microsoft has not issued an official response about why it is not accepting Bitcoin anymore and the employees of the company cannot disclose the reasons for this action, but it is not hard to speculate why this move was made.

While many people believe that it was done for reasons involving the lack of regulation of Bitcoin, it seems more likely that this decision was made because of the high operational costs of using Bitcoin.

Reasons for this decision might involve the high volatility of the Bitcoin price and the high transaction fees (which are the Achilles heel of Bitcoin). Another company which has stopped using Bitcoin recently was Steam, which has publicly answered that the reason for that was the volatility of the prices.

The Future Of Bitcoin As A Way Of Payment

Will Microsoft start to accept Bitcoin again in the near future? It is still too early to say. Will more companies follow and, while the adopters of the company grow, the opportunities to use it cease to exist? Follow our blog for more Bitcoin news.