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Bitcoin Update: Microsoft to Continue Accepting Bitcoin Payments

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(Credit: Thomas Trutschel/Photothek via Getty Images) BERLIN, GERMANY - FEBRUARY 15: In this photo illustration model Bitcoins standing in front of Dollar bills on February 15, 2016 in Berlin, Germany. Bitcoin
March 15
9:45 AM 2016

Previously on the Windows Store FAQ page reveals that Microsoft will no longer support Bitcoin app purchases. Existing balance can be still be used but can no longer add more Bitcoins to account and cannot be refunded. This arises many questions as to why the sudden decision.

And since there are a lot of ideas and guesses coming out online about Bitcoin's removal as mode of payment, people said that the reason behind is that there is a limited adoption of Bitcoin and the changes made to the FAQ page was just "an error", according to Softpedia.

To make the long story short, Microsoft will continue to adopt Bitcoin as mode of payment in its Windows Store, so that cryptocurrency can still be used for new deposits. A Microsoft spokesperson released a statement for some details:

"We continue to support Bitcoin for adding money to your Microsoft Account which can be used for purchasing content in the Windows and Xbox stores. We apologize for inaccurate information that was inadvertently posted to a Microsoft site, which is currently being corrected."

It only means that everything will be the same as it was and that Microsoft will still honor Bitcoin payments.  Microsoft started accepting Bitcoin payments in 2014 for purchasing apps and other goods, Ubergizmo reported.   

Cryptocurrency like Bitcoin is not similar to notes and coins. It is a virtual money and works in a different way physical currencies do.  Its value is decided by the frequency of transactions recorded and saved in a public ledger. Even bashed with negative feedback, the financial world is looking forward that Bitcoin technology would become a game changer.  The value of Bitcoin against the dollar began surging to cross $1,200 or £841, says the International Business Times in a report.

So, it was only an erroneous mistake when Microsoft posted in its FAQ page that it will no longer accept Bitcoin payments. A Microsoft spokesperson already made an apology and said that the information will be reversed and fixed. The tech company will continue its support and accept Bitcoin as mode of payment.

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