Microsoft says 'no' to the use of Bitcoin on its Store

Microsoft Store has shut its doors on bitcoin usage. The company made a quick  announcement on its site.

The company states, “Microsoft Store doesn’t accept Bitcoin.” It applies to Windows 10 and Windows 10 Mobile. The company states that one can no longer redeem bitcoin into their Microsoft account. The existing balances in the account will still be available for purchases from Microsoft Store, but can’t be refunded, Microsoft further adds.

In late 2014, Microsoft had announced to support Bitcoin. A user could add bitcoins to their Microsoft account and buy games, apps and other digital content. However, a lot of water has flown since then, with some of the people involved in bitcoins also getting embroiled in controversies.

In a recent report , one of the lead developers, Mike Hearn, said that he was ending his involvement with the cryptocurrency and selling all of his remaining holdings because it had “failed”. Hearn, one of five senior developers who has spent more than five years working on the web-based currency, said he would no longer be taking part in development.

Those not in the know, Bitcoin is a currency for the digital world. It is an algorithm-based unit of measurement invented to quantify value and was once said to be a widely used open-source peer-to-peer currency without a bank or a middleman.