Microsoft of all companies is now accepting Bitcoin
Great news for Bitcoin users, Microsoft is now accepting the cryptocurrency as payment for digital content from it various stores! Customers looking to purchase digital copies of Xbox games, mobile apps, music, and a few other items will now be able to do so with Bitcoin, an especially surprising move by the company.
A Redditor by the name of Shafnitz noticed the new payment option and reported the news on the Xbox One subreddit, saying: “This is the first time I’ve noticed this option in my Microsoft account. If you login to your Microsoft Billing account, right below the option to redeem a gift cardthere is an option to redeem bitcoins.”
CoinDesk was the first news site to write about the new option, which is explained on Microsoft’s official website. According to Microsoft: “You can only use bitcoin to add money to your Microsoft account and then purchase digital goods at select Microsoft online stores. You can’t use bitcoin to purchase Microsoft products and services directly at this time.”
Microsoft hasn’t issued an official statement regarding their acceptance of Bitcoin or how they intend to use it for their Windows, Windows Phone, or Xbox platforms. What we do know from the company’s Help page on their website, aside from the previously mentioned lack of direct bitcoin payment, is that users can only add a maximum of $100 at a time.
This move stems from a partnership with BitPlay, a payment processor that’s based in Georgia. BitPlay enables businesses to accept Bitcoin for sales by converting the digital currency into local currency, a service that they currently only offer in the United States. The two companies are expected to make an official announcement soon, with more details to come.
While Microsoft hasn’t fully embraced the digital currency yet, this partial integration will undoubtedly be a shot in the arm for Bitcoin, which is currently worth about $360, a hell of a lot less than it’s $1150 peak around this time last year. However, that $360 is up from the $340 that it was at prior to this new about Microsoft.