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Microsoft Considers Adding Bitcoin Payment to Its Online Store, Polling Xbox Users

UTC by John K. Kumi · 3 min read
Microsoft Considers Adding Bitcoin Payment to Its Online Store, Polling Xbox Users
Photo: Depositphotos

A circulating photo is seen asking users to choose the type of payment method they would like to use on Xbox with Bitcoin as one of the listed methods.

Bitcoin is currently trading at above $57,000, thanks to the massive adoption rate and institutional interest. Today, another great news is coming in as Microsoft Corporation (NASDAQ: MSFT) is considering adding Bitcoin payment to its Gaming Console Online Store. According to a Reddit post, Microsoft Corporation has sought to join the party running a poll to make its decision.

A circulating photo is seen asking users to choose the type of payment method they would like to use on Xbox with Bitcoin as one of the listed methods. The photo is circulating across several platforms including Twitter Inc (NYSE: TWTR) and subreddits which includes r/Bitcoin. Though an attempt for reporters to get first-hand confirmation from the company was unfruitful, one user stated that the survey is available to those who participate in the insider program for beta testing OS update. 

Microsoft Corporation has a very good history with Bitcoin, though there has not been a major move for its investment as other companies have. Brad Smith, the President stated that they have no diversification plan for cryptocurrency. Interestingly, Microsoft Corporation in 2014 accepted Bitcoin funding for Microsoft accounts to ensure that users in locations such as the US can buy Microsoft products such as Xbox games. This was suspended until a couple of years ago when they decided to resume the payment in Bitcoin for its MS online store. 

It is worth noting that the Xbox online store does not accept payment in any of the cryptocurrencies. Currently, several companies have taken the lead to recognize Bitcoin as one of their payment methods. 

Food Depot Inc, a hardware store chain is largely accepting Bitcoin payment for all of its products. This means entire hardware for building a house can be bought with Bitcoin, thanks to their partnership with Gemini

Starbucks Corporation (NASDAQ: SBUX), another company that accepts Bitcoin payment after an initial objection to the circulating reports. They condemned the reports that stated that they would be accepting Bitcoin starting from 2019. However, the company finally joined the list with the launching of the Bakkt app by the future’s exchange Bakkt.

KFC Canada is another company that accepts payment in Bitcoin. According to reports, they have found themselves among the Twitter Bitcoin community to announce their new stand to the Bitcoin community. Bitcoin has a very good time ahead as it is gradually moving towards the goal of being the “internet money.” 

Following the recent investment into the Bitcoin market by Tesla Inc (NASDAQ: TSLA), it was announced that the company is working to accept Bitcoin payment on its products. This and many other plans in the pipeline can have a considerable effect on the Bitcoin price move far above its current value. 

Bitcoin News, Business News, Cryptocurrency news, News
John K. Kumi
Author John K. Kumi

Excellent John K. Kumi is a cryptocurrency and fintech enthusiast, operations manager of a fintech platform, writer, researcher, and a huge fan of creative writing. With an Economics background, he finds much interest in the invisible factors that causes price change in anything measured with valuation. He has been in the crypto/blockchain space in the last five (5) years. He mostly watches football highlights and movies in his free time.

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