Bitcoin has yet to return to the $1,000+ exchange rate it enjoyed a little over a year ago but that doesn’t mean 2014 was a bust for the virtual currency. Value aside, it’s been a banner year for Bitcoin as a number of major companies have come out in support of the cryptocurrency.
Today we can add Microsoft to the growing list of Bitcoin supporters.
The Redmond-based company has added Bitcoin as a payment option for a variety of the digital goods it sells. Utilizing payment processor BitPay, Microsoft customers can now trade in Bitcoin at the current market value and add the resulting money to their Microsoft account.
Funds can be used to purchase content in the Windows Store or in stores that house Xbox Games, Xbox Music or Xbox Video.
Eric Lockard, corporate vice president of Universal Store at Microsoft, said the use of digital currencies such as Bitcoin, while not yet mainstream, is growing beyond the early enthusiasts. Lockard added that they expect continued growth and allowing people to pay with Bitcoin puts Microsoft at the front edge of that trend.
Microsoft points out that there’s currently a limit on how much you can exchange – $1,000 per day and no more than $5,000 to additional Microsoft accounts registered in your name. What’s more, Bitcoin funds can’t be used to purchase physical Microsoft goods – just the digital content listed above.
Either way, it’s another big day for Bitcoin that boosts its legitimacy even more.