Things have been a bit silent on Bitcoin’s front lately. At least, I haven’t really heard of anything too big. That changes today with Microsoft adding the digital currency as a payment option for digital content across its platforms.
Want to buy Halo: The Master Chief Collection with your bitcoin? Now you can.
According to CoinDesk, Microsoft teamed up with BitPay to bring the digital currency to its platforms including Windows, Windows Phone and Xbox.
Eric Lockard, corporate VP of Universal Store at Microsoft, had this to say about embracing bitcoin.
“For us, this is about giving people options and helping them do more on their devices and in the cloud,” Lockard says.
“The use of digital currencies such as bitcoin, while not yet mainstream, is growing beyond the early enthusiasts. We expect this growth to continue and allowing people to use bitcoin to purchase our products and services now allows us to be at the front edge of that trend.”
What you need to know about bitcoin on Microsoft’s services
Limited to digital content only
You won’t be buying a new cellphone with bitcoin from Microsoft, yet. Purchases will be limited to digital content on Windows Store or Xbox Games, Xbox Music or Xbox Video.
I don’t know why you would buy that much Microsoft digital content, but hey, that’s how much you can have in your account. $1,000 is the maximum Microsoft will let you add to your account on any given day. And, it looks like the highest you can add at one time is $100. Other options range from $10 to $75.
Only folks living in the U.S. can use bitcoin to add money to their Microsoft account. I would imagine support will be coming soon for other regions. A piece of Microsoft’s blog post reads, “There is a cap on how much you can exchange per day: $1,000 (or its equivalent in your country or region’s currency).” (emphasis mine)
Microsoft’s adoption of bitcoin is another win for the digital currency. Many retailers have accepted bitcoin including Newegg, TigerDirect, Dell, Virgin Galactic and more.
There are still some holdouts. Amazon being the biggest.
The price of bitcoin reacted positively to today’s news, rising from a low of around $338 to a high of $360.