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Leading software company Microsoft has asked its users for their payment preferences and views on bitcoin transactions. In a poll shared on Bitcoin’s subreddit (r/bitcoin), a user named “Jebusura” claims that the software company began polling for use of cryptocurrencies as an alternative payment method on Xbox.
Xbox Prompt Bitcoin as Payment Options
Microsoft provides users with Bitcoin as an option, asking:
Which of these other payment methods would you like to use on Xbox?
Microsoft aims to determine whether users would be comfortable paying for the Xbox gaming platform’s online store services with the digital currency Bitcoin. The software company previously included Bitcoin as a payment option for Windows apps and Xbox games in 2014. However, Other users thereafter confirm that this program is no longer available on the platform.
The software company reportedly resumed accepting payments in Bitcoin earlier this year for items listed on the Microsoft Store. This internal Xbox program appears to be an expansion of that first initiative. From the latest, Bitcoin has performed negatively during the day, after a weekend moving sideways. Currently, BTC is trading at $54,700 and has lost key support at $55,000. The price could continue to drop towards the low range of $50,000.
Microsoft Will Not Invest in Bitcoin Like Tesla
Tesla is among the first major companies to list Bitcoin as their payment option. The automobile company led by Elon Musk included cryptocurrency as a mode of payment in mid-February. The company added the first digital currency Bitcoin as part of its balance sheet. It is worth noting that after this move the price of the cryptocurrency shoots to $58,000, proving the volatility of cryptocurrencies.
Unlike the CEO of Tesla, an electric vehicle company, the former CEO of Microsoft, Bill Gates, has an ambiguous stand on cryptocurrency. Gates has already expressed his concerns about the energy consumption of the Bitcoin network in the recent past. He shows his concern for the damage caused to the environment in BTC mining. And stated that Bitcoin isn’t environment friendly. Both Gates and current Microsoft CEO Brad Smith have knocked back Tesla’s footsteps about adopting Bitcoin in its treasuries.
However, Microsoft is imminent to explore blockchain technology and its reminiscent features. Recently, Microsoft partnered with Ernst & Young (EY) to explore the use of a blockchain platform for gaming payments and royalty contracts.