Microsoft Confirms It Does Accept Bitcoin After All

Microsoft has performed a major U-turn on its policy surrounding Bitcoin payments, confirming that it is in favour of the technology.

The company has stated that it will be accepting Bitcoin as a form of payment for purchases made in its Windows Store, and in fact has never not done so.

This is despite it being reported yesterday that the Store would no longer accept Bitcoin payments for purchases made on Windows 10 and Windows 10 Mobile platforms.

Inaccurate

“We continue to support Bitcoin for adding money to your Microsoft Account which can be used for purchasing content in the Windows and Xbox stores,” a Microsoft spokesperson said in a statement yesterday.

“We apologise for inaccurate information that was inadvertently posted to a Microsoft site, which is currently being corrected.”

The move had been seen as puzzling by many in the Bitcoin space, as Microsoft had declared its support for the technology as far back as December 2014, when it first began accepting payment using the cryptocurrency thanks to a partnership with processing firm Bitpay.

The company also allows players on its Xbox gaming console to make purchases using Bitcoin.

Bitcoin is still supported by many other major technology companies, who see the currency as offering a viable alternative to traditional forms of payment. Most recently, gaming platform Steam announced its support, also via Bitpay.

When it comes to everyday use, Barclays has previously announced that it would be supporting research into using Bitcoin in the UK as part of a major investment in burgeoning technology firms.

Last year, it was also reported that the NASDAQ stock exchange was also evaluating blockchain, the underlying technology behind Bitcoin, in order to see if it could be used in trading of shares in private companies.

This is despite the Bank of England raising its suspicions about Bitcoin last year, warning that the digital currency could pose a threat to financial stability in the UK should it see widespread adoption.

What do you know about Bitcoin? Take our quiz!