Is Bitcoin Dying As A Payment Option?

While it may be a hugely investable asset, Bitcoin is venturing further away from being a functional currency.

About six months ago the news was littered with companies that were looking to integrate Bitcoin as a payment system. However, in the fast-paced cryptocurrency ecosystem, things have changed dramatically.

Now, there is a host of companies either turning away from Bitcoin or doing a full U-turn. Microsoft recently announced that after almost three years it would stop accepting Bitcoin. However, it did reserve that position after taking its own steps to: “ensure lower Bitcoin amounts would be redeemable by customers.”

Steam, the gaming platform, also canceled its use of Bitcoin as a payment system in early December last year. Their reasons resonated with the general consensus, citing high fees and incredible volatility as the main issues.


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