Bitcoin’s hopes on becoming one of the technology industry’s most backed currencies has been taken down a peg after Microsoft said it would no longer payment.
The computing giant has decided to remove Bitcoin as a payment option for its Microsoft Store shop, where users can purchase apps, games and devices.
This is despite Microsoft previously giving its backing to Bitcoin technology as far back as December 2014, when it first began accepting payment using the cryptocurrency thanks to a partnership with processing firm Bitpay.
The company noted that this new ruling also applies to Windows 10 and Windows 10 Mobile, but did not specific if other platforms are affected, as Xbox users have reported still be able to access their balance.
Bitcoin is still supported by many other major technology companies, who see the currency as offering a viable alternative to traditional forms of payment. Most recently, gaming platform Steam announced its support, also via Bitpay.
When it comes to everyday use, Barclays has previously announced that it would be supporting research into using Bitcoin in the UK as part of a major investment in burgeoning technology firms.
Last year, it was also reported that the NASDAQ stock exchange was also evaluating blockchain, the underlying technology behind Bitcoin, in order to see if it could be used in trading of shares in private companies.
This is despite the Bank of England raising its suspicions about Bitcoin last year, warning that the digital currency could pose a threat to financial stability in the UK should it see widespread adoption.
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Bank of England is absolutely right - but worse untraceable currency are dangerous, it allows criminals to commit crimes and get paid for them with out fear of being traced - Think ransomware only succeeds because of bitcoins and the like.
Given the volatility of the currency probably not a good investment bet anyway for a pension!