You may have heard of the keen interest Microsoft often takes in cryptocurrencies, including the pioneering crypto coin Bitcoin (BTC). You may also have glanced headlines suggesting Microsoft stopped taking Bitcoins but perhaps you are not clear on the current situation. Are you wondering whether Microsoft still accepts Bitcoin?
If that is indeed the question on your mind, it is time to find out what is true.
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Did Microsoft Stop Accepting Bitcoins?
Back in end of 2017 and beginning of 2018, Microsoft had stopped accepting Bitcoins for a brief while. This was right after Bitcoin had experienced its glorious highs in terms of price in December 2017.
Even though the December 2017 dream run did prop up Bitcoin’s price to an enviable high, Microsoft did not feel it able to deal with such levels of volatility as had become very noticeable in the regular movements in the Bitcoin price.
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According to news reports from that period, the company had also decided against the policy of accepting Bitcoins owing to its high fees.
Given the two cons of high fees and high volatility had piled up, it had managed to outweigh the many pros of Bitcoin in the eyes of Microsoft.
Does Microsoft Accept Bitcoins?
Within a week of making the decision of not supporting Bitcoin as a mode of payment, Microsoft changed its stance. They re-evaluated that decision and soon announced that they would once again start accepting Bitcoin payments from its users.
A spokesperson from the side of the company clarified to the press that:
“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.
Clearly, Microsoft found enough worth in Bitcoin to reconsider its decision to scrap support for Bitcoin payments.
With Microsoft accepting Bitcoin payments, there is absolutely no doubt whatsoever that the adoption of Bitcoin will have a smoother ride than it would have had without Microsoft’s support.
It is important to note that Microsoft’s foray into the market for cryptocurrencies has also involved its participation in the Bakkt Exchange, alongside big players like Starbucks and BCG.
What Can You Purchase With Bitcoins on Microsoft?
The Microsoft website lays down the following stipulations with regard to what you can do with Bitcoins on the Microsoft platform. According to the website:
“When you redeem Bitcoin to deposit funds into your Microsoft account, you can use it to purchase games, movies, and apps in the Windows and Xbox stores. You cannot use these funds to purchase items in the Microsoft online store.”
It further clarifies:
“Money added to your Microsoft account using Bitcoin can’t be refunded. You can’t use money in your Microsoft account to buy gift cards. Support for adding money to a Microsoft account with Bitcoin is not available in all countries and regions. “
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