Microsoft Announced Bitcoin Payment Revival After a Halt Over “Volatility”: [Essay Example], 416 words GradesFixer
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Microsoft Announced Bitcoin Payment Revival After a Halt Over “Volatility”

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What some could have referred to as to the change of the position is no longer applicable.

This week, the technology giant Microsoft has renewed the BTC remuneration option for its services and products. Just a few days ago several media, which reached out to the company’s representatives, informed about Microsoft’s decision to stop receiving bitcoin funding methods without highlighting the official reason for the halt.

It was not the first time when Microsoft shut down this payment service. Started being friendly to BTC in 2014, the company had to pause the bitcoin payment service providing back in 2015 and 2016. This time some could have thought that the large tech corporation changed its attitude on cryptocurrency when it revived the payment option for crypto enthusiasts.

The First News Over The Pause

Earlier this week it was reported that Microsoft officially stopped adopting BTC funding methods. The company’s customer support representatives acknowledged it to several media outlets that the services were disabled since December 26, 2017. The “Redeem bitcoin” link on Account.Microsoft.com was purged. Since then clients could not purchase movies, games, applications, etc., in Xbox and Windows stores.

The actual reason for the halt was not given. Therefore, a plethora of rumors on the internet concerning Microsoft’s change of position concerning cryptocurrency arouse.

BTC Payment Option Is Back

On January 9, amid the spreading news over the halt of bitcoin payment for the corporation, some websites reported that they reached out to the company and were told that the service was renewed. According to them, the company revived the option after discussing it with its provider.

As news.com.au reports, a Microsoft spokesperson on Wednesday, January 10, ultimately reaffirmed that the service indeed was regenerated:

“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.”

Meanwhile, Bleeping Computer referring to the words of several unnamed company’s raps, informed that the tech titan came to pause because of the volatile nature of this digital coin.

Interestingly, the news about Microsoft giving up on BTC was published at the period of bitcoin swings in price. After January 8 bitcoin started sweepingly losing in value, firstly, dropping down to about $14,300 on January 8 and $13,100 on January 11. It seems that bitcoin finds it quite difficult to recover after a severe correction in the end of December 2017, when it fell as much as 30% in 24 hours to a low of $12,000.

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GradesFixer. (2018, October, 08) Microsoft Announced Bitcoin Payment Revival After a Halt Over “Volatility”. Retrived February 20, 2020, from https://gradesfixer.com/free-essay-examples/microsoft-announced-bitcoin-payment-revival-after-a-halt-over-volatility/
"Microsoft Announced Bitcoin Payment Revival After a Halt Over “Volatility”." GradesFixer, 08 Oct. 2018, https://gradesfixer.com/free-essay-examples/microsoft-announced-bitcoin-payment-revival-after-a-halt-over-volatility/. Accessed 20 February 2020.
GradesFixer. 2018. Microsoft Announced Bitcoin Payment Revival After a Halt Over “Volatility”., viewed 20 February 2020, <https://gradesfixer.com/free-essay-examples/microsoft-announced-bitcoin-payment-revival-after-a-halt-over-volatility/>
GradesFixer. Microsoft Announced Bitcoin Payment Revival After a Halt Over “Volatility”. [Internet]. October 2018. [Accessed February 20, 2020]. Available from: https://gradesfixer.com/free-essay-examples/microsoft-announced-bitcoin-payment-revival-after-a-halt-over-volatility/
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