As part of an internal program, Microsoft asked its users about their payment preferences. In a survey on Bitcoin’s Subreddit (r / bitcoin), a user named “Jebusura” reported that the software company had started a survey of alternative payment methods. Microsoft asked the following, giving BTC as an option:
Which of these other payment methods would you like to use on Xbox?
Microsoft’s goal is to determine whether users can conveniently pay for the Xbox gaming platform’s online store services using Bitcoin. The software company added BTC as a payment option for Windows apps and Xbox games in 2014.
Other users later reported that this program had stopped. The software company reportedly resumed making payments with Bitcoin for items in the Microsoft Store earlier this year. This internal Xbox program appears to be an extension of that first initiative.
Source: RedditMicrosoft won’t buy Bitcoin like Tesla does
The last major company to accept Bitcoin as a payment method was Tesla. The automotive company, led by Elon Musk, adopted cryptocurrency as a payment method in mid-February. The company added Bitcoin as part of its balance sheet and raised the cryptocurrency price to $ 58,000.
Unlike Tesla’s CEO, former Microsoft CEO Bill Gates has an ambiguous position on cryptocurrency. Gates has raised concerns about the bitcoin network’s energy consumption.
Both Gates and current Microsoft CEO Brad Smith have denied the company will follow in Tesla’s footsteps when it comes to adding BTC to its coffers.
Bitcoin performed negatively during the day after a sideways weekend. BTC is trading at $ 54,600 and has lost key support at $ 55,000. Therefore, the price could continue to fall towards the low $ 50,000 area.
Analyst firm Glassnode has seen strong support for Bitcoin from retail investors. In a report, Glassnode stated:
The ongoing accumulation of smallholders shows willingness to HODL through volatility, with the trend unbroken from mid-2018 to the chaos of 2020. Immediately after the sell-off on Black Thursday in March 2020, we are also seeing a sharp increase from 0.1 to 1 BTC holders. Despite the low expenses for the rally of up to 42,000 US dollars, the “satellite forklifts” are back at an all-time high.
Bitcoin loss support on the 24-hour chart. Source: BTCUSD Tradingview
There's a lot of money in the crypto industry, that's for sure. And we are at a stage where...