Microsoft to stop accepting bitcoin as payment method due to volatility

After months of tumultuous movement in its value, the most popular cryptocurrency in the world has seen massive gains in its value, followed by periods of steep decline, and so on. All this volatility has been enough to make Microsoft decide to stop accepting bitcoin as a way of adding money to your Microsoft account, at least temporarily.

As Bleeping Computer reports, multiple Microsoft employees have informed the publication that Microsoft has removed the cryptocurrency as a payment option. It's unclear if this will remain the case indefinitely, though the aforementioned employees state the move is temporary.

This is, of course, not the first time Microsoft has disabled the use of bitcoin on its platform after it first added the option back in 2014. Two years ago, the company did the same thing, although it immediately reversed the decision a day later, blaming the whole thing on an accident.

Microsoft is also not the only company to take similar steps in recent months. Steam famously stopped accepting bitcoin as well last month. Both tech giants blame the volatility of the currency as being the reason for the change, as sudden changes in value can not only lead to massive losses but may also erode consumer confidence as they haphazardly change prices to reflect the rapidly shifting exchange rates.

Source: Bleeping Computer via MSPoweruser

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