Many people still stay away from virtual currencies like Bitcoin because of the rapid fluctuation in value that has been witnessed previously and because there’s no shortage of controversy surrounding this particular cryptocurrency. It’s not like people haven’t moved to Bitcoin, though, and since many major companies started accepting payments in Bitcoin, its legitimacy grew last year. Microsoft also started accepting Bitcoins as payment for Windows apps and Xbox games last year but it’s putting an end to that.
Microsoft previously allowed customers to fund their Microsoft Accounts with Bitcoins which could then be used to purchase Windows apps as well as content from Xbox games, video and music stores. The brief experiment with Bitcoin doesn’t seem to have convinced the company to keep supporting it.
The company has updated its support pages rather quietly to reflect that it’s no longer accepting Bitcoin as a method of funding a Microsoft Account. Customers will be allowed to use their existing balance for making purchases but they won’t be able to use Bitcoin to top up their balance. Microsoft will also not be refunding balances.
Microsoft’s move comes following recent criticism of Bitcoin. Some believe that this cryptocurrency has outlived its welcome and that it’s only a matter of time before it all goes up in flames. That could be a possibility, or maybe there weren’t many people using this option to fund their Microsoft Account that the company sees no real value in continuing support for Bitcoin.