Microsoft (NASDAQ:MSFT) has now become the latest big brand to begin accepting the peer-to-peer decentralized virtual currency bitcoin. The Redmond, Washington-based company will allow customers to use the digital currency to purchase Windows, the Windows phone and Xbox products.
It was first discovered by CoinDesk at the Microsoft payment and billing policy page. And bitcoiners have found out that Microsoft has apparently partnered with BitPay, though neither party has issued a press release or formal announcement to confirm the relationship.
However, ostensibly, customers can utilize bitcoin to load money into a Microsoft wallet or establish digital gift cards. In other words, direct payments are not being supported at the current time. Also, bitcoin payments can only be used by customers in the United States.
Eric Lockard, corporate vice president of Universal Store at Microsoft, wrote on the latest news:
“The use of digital currencies such as bitcoin, while not yet mainstream, is growing beyond the early enthusiasts. We expect this growth to continue and allowing people to use bitcoin to purchase our products and services now allows us to be at the front edge of that trend.”
Analysts say this is part of Microsoft’s initiative to transition its business focus to an array of new and different platforms, which is led by the new CEO Satya Nadella, who took over earlier this year.
Microsoft joins a wide variety of other companies and non-profit organizations to accept the cryptocurrency, including Dell, Expedia, Wikimedia, Overstock.com and the Dish Network. More merchants and non-profit entities are expected to incorporate the acceptance of bitcoin into their business models.
It has been quite the rollercoaster year for bitcoin as various exchanges went bankrupt or shut down due to enormous thefts. Cyber attacks still remain a prevalent reality for the digital currency. Meanwhile, the price of one bitcoin has experienced a freefall as it has dipped from last year’s high of nearly $1,200 to as low as $350. Despite the troubles bitcoin has experienced in the last year, there is still widespread adoption all over the world.
