Microsoft Corporation Still Honors Bitcoins

The technology company stated that the information initially posted on the company’s page was inaccurate and its still accepting bitcoin transactions.

The technology giant had announced that it will be ending support for cryptocurrency as a mode of payment on its Windows Store, however that news turned out to be ‘inaccurate’.

The technology giant stated: ‘Bitcoin will still be honored.’ The inaccurate information was provided on the company’s page. Even though the post was erroneous, we are yet to find out how that information got on the company’s official page. The forged update was spotted by Reddit and it further stated the specific change will only apply to Windows 10 and the company’s mobile stores whereas, the service is available on Xbox too.

Microsoft Corp. has announced its support for bitcoins back in 2014 when it struck the deal with Bitpay -a third party payment processor. During the initial stage, the service was only provided to customers within the United States. The Vice President of Universal Store, Eric Lockard said that the tech corporation aims at giving people more options and helping them achieve more via their devices along with the cloud. He further added that the use of bitcoins is yet to be mainstream however it is a growing market.

The termination of bitcoins from the platform raised many questions but it was died after the company announced that they will continue to support bitcoins and customers can add money to their Microsoft accounts; this money can be used by the users to purchase content on Xbox and Windows. The organization even apologized for the inaccurate information that was provided on its platform.

However, it is still too soon to say what will happen to the bitcoin market as according to recent reports, it takes a long time to carry out transactions with bitcoins. Following the recent events in Russia, the country has reported that the use of bitcoin can be used as a criminal offence. Presently, central bank of Russia is reconsidering the use of this currency technology.

Furthermore, in other news, the company has also announced that it will be launching its developer kit for HoloLens as well. Presently, its busy with show casing the apps and games that it has ready for its augmented reality headset. The most novel app that the tech giant has made is Actiongram which is an augmented reality movie maker; this app allows customers to shoot videos of people who are interacting with the hologram.

Presently, Microsoft corporation’s stock is being traded at a share price of $53.17. The market capitalization of the tech giant is at $421.33 billion. In a year’s time, the stock of the company was seen hitting a high of $56.84 while a 52-week low was witnessed at $39.72.

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