Microsoft Welcomes Back Bitcoin
By Jonathan Vanian January 10, 2018
Microsoft is welcoming Bitcoin back to its Windows and Xbox online stores.
The move comes after the technology giant stopped letting customers use Bitcoin as payment for online games and apps earlier this week because of its volatility, tech website Bleeping Computereport said on Monday, citing unnamed sources.
Microsoft (msft, -0.28%) has since reversed course and is now once again letting people add Bitcoin to their Microsoft-sanctioned digital wallets that they can then redeem as dollars, the company told Australian news website news.com.au on Wednesday.
“We’ve restored bitcoin as a payment option in our store after working with our provider to ensure lower bitcoin amounts would be redeemable by customers,” the spokesperson told the publication. Microsoft first started accepting bitcoin as a payment method in 2014.
Fortune contacted Microsoft for more information and will update this story if it responds.
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Bitcoin has had a wild ride over the past 12 months, surging to record highs one day and then tumbling the next. In mid-December, the cryptocurrency almost hit $20,000, but just a few days later it dropped over 22% to $15,262. On Wednesday, bitcoin was trading as high as $14,694, according to Coindesk.
Microsoft’s temporary pause on Bitcoin in its online stores follows a similar decision by video gaming service Steam. In December, Steam said it would stop accepting Bitcoin due to its “high fees and volatility.” However, Steam said it’s possible that it would accept Bitcoin at a later date.
Update: 3:39 PM PST.
Microsoft confirmed that it has indeed restored bitcoin to its online stores.