Microsoft’s On Again Off Again Affair With Bitcoin

Microsoft

Microsoft is letting buyers use bitcoin AGAIN in its online stores. WHAT? You didn’t know they STOPPED accepting bitcoin? Well that’s because it was only a couple days ago they halted bitcoin payments due to volatility. Now its back. Geeezzzz, c’mon “Big Softy”, make a commitment. So, is Microsoft’s Xbox and Windows online store really a bitcoin exchange subjecting users to “trading halts”? Anyway, welcome back bitcoin.
(Bill Taylor/CEO)


“Microsoft is welcoming Bitcoin back to its Windows and Xbox online stores.

The move comes after the technology giant stopped letting customers use Bitcoin as payment for online games and apps earlier this week because of its volatility, tech website Bleeping Computereport said on Monday, citing unnamed sources.

Microsoft (msft, +0.19%) has since reversed course and is now once again letting people add Bitcoin to their Microsoft-sanctioned digital wallets that they can then redeem as dollars, the company told Australian news website news.com.au on Wednesday.

“We’ve restored bitcoin as a payment option in our store after working with our provider to ensure lower bitcoin amounts would be redeemable by customers,” the spokesperson told the publication. Microsoft first started accepting bitcoin as a payment method in 2014.

Bitcoin has had a wild ride over the past 12 months, surging to record highs one day and then tumbling the next. In mid-December, the cryptocurrency almost hit $20,000, but just a few days later it dropped over 22% to $15,262. On Wednesday, bitcoin was trading as high as $14,694, according to Coindesk…”


Full Story at Fortune.com