{"id":210753,"date":"2021-03-25T18:07:00","date_gmt":"2021-03-25T15:07:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/microsoft-waffling-over-bitcoin-btcs-return-to-xbox-unlikely-to-spur-adoption\/"},"modified":"2021-03-25T18:07:00","modified_gmt":"2021-03-25T15:07:00","slug":"microsoft-waffling-over-bitcoin-btcs-return-to-xbox-unlikely-to-spur-adoption","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/microsoft-waffling-over-bitcoin-btcs-return-to-xbox-unlikely-to-spur-adoption\/","title":{"rendered":"# Microsoft waffling over Bitcoin? BTC\u2019s return to Xbox unlikely to spur adoption"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3d28c998de7\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3d28c998de7\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/microsoft-waffling-over-bitcoin-btcs-return-to-xbox-unlikely-to-spur-adoption\/#Does_Microsofts_interest_change_anything_for_the_industry\" >Does Microsoft\u2019s interest change anything for the industry?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/microsoft-waffling-over-bitcoin-btcs-return-to-xbox-unlikely-to-spur-adoption\/#Is_Microsoft_short-sighted_in_its_crypto_outlook\" >Is Microsoft short-sighted in its crypto outlook?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/microsoft-waffling-over-bitcoin-btcs-return-to-xbox-unlikely-to-spur-adoption\/#Crypto_adoption_makes_sense\" >Crypto adoption makes sense<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Microsoft waffling over Bitcoin? BTC\u2019s return to Xbox unlikely to spur adoption <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDMvYzc3NjI1M2ItNmQ0ZS00YzhjLTk1MGYtMDcwMmQ5NzFjZDgxLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5a136f3a>Microsoft has been sending mixed signals when it comes to its true intentions regarding Bitcoin (BTC) as well as the cryptocurrency market in <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">general<\/a>. On one hand, Microsoft president Brad Smith gave an interview earlier this year, claiming that the multinational was not even the least bit interested in dabbling in Bitcoin, stating that Tesla\u2019s move to invest $1.5 billion had not changed anything for the company.<\/p>\n<p>However, just a couple of days ago, the tech giant seemed to showcase a change of heart by reportedly releasing a poll online asking its customers how they would like to pay for their purchases in the Xbox <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/game\/\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Game\" target=\"_blank\" rel=\"noopener\">Game<\/a>s Store in the future, with one of the most prominent options on the list being Bitcoin. <\/p>\n<p>This development also comes right after Smith stating that fintech firms have no business issuing private digital currencies, arguing that central banks are there to look after the \u201ccommon good\u201d of the masses and thus should be the ones who are in command of the world\u2019s money supply streams.<\/p>\n<p>If Bitcoin does get accepted as a means of payment in the Xbox Games Store, it would not be the first time that Microsoft would have dabbled in crypto because as far back as 2014, the company has been <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.theverge.com\/2014\/12\/11\/7375771\/microsoft-supports-bitcoin-payments\">accepting<\/a> Bitcoin to fund its accounts, allowing United States-based users to acquire a whole host of content from their Windows Store \u2014 including Xbox gaming titles. <\/p>\n<p>That being said, the firm\u2019s crypto foray came to a standstill in 2018 when the market as a whole was on the receiving end of insane bearish pressure, causing the value of most cryptocurrencies to tumble to relative lows. However, earlier this year, Microsoft once again decided to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/fortune.com\/2018\/01\/10\/microsoft-bitcoin-temporary-halt\/\">allow<\/a> Bitcoin payments, albeit only for its MS Store.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Does_Microsofts_interest_change_anything_for_the_industry\"><\/span>Does Microsoft\u2019s interest change anything for the industry?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>On March 24, Tesla CEO Elon Musk announced that his company would be accepting Bitcoin as payment for its cars, leading many from the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">social media<\/a> world to come forth and declare that crypto had finally gone mainstream. However, even if so, it\u2019s definitely not clear-cut that BTC will become a mainstream means of payment if other large companies, like Microsoft, which have questioned crypto in the past, would allow crypto as a payment method.<\/p>\n<p>On the subject, Joe Zhou, founder and CEO of FirstBlood \u2014 a blockchain-based esports platform \u2014 told Cointelegraph that, by and large, this development seems to be positive on paper, especially as it stands to help increase crypto adoption across the global digital landscape, adding:<\/p>\n<blockquote><p>\u201cSo far, gaming publishers haven\u2019t been early adopters of such <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a>. For example, the creators of League of Legends \u2014 Riot Games \u2014 have a no-blockchain policy. I would think so, if you are allowing your users to use crypto to make purchases in your ecosystem, your competitors will be more likely to follow, otherwise they\u2019d be missing out.\u201d <\/p><\/blockquote>\n<p>Zhou further opined that if Microsoft does decide to enable crypto payments, it could potentially lay the perfect groundwork for the marriage of the gaming and crypto communities, especially since he believes that gamers in the 18\u201335 age bracket are the ones who are most likely to hodl digital currencies in the future.<\/p>\n<p>Lastly, in his view, <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>s such as Cash App and PayPal that allow users to buy and hold crypto will further help in merging the two worlds, allowing for even greater adoption within the gaming community. \u201cI would be most curious about how Microsoft\u2019s treasury department is going to handle their crypto revenues. Will they liquidate for fiat? Or are they going to hold them like Tesla and MicroStrategy,\u201d he added<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Is_Microsoft_short-sighted_in_its_crypto_outlook\"><\/span>Is Microsoft short-sighted in its crypto outlook?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Though there are many who believe that Microsoft\u2019s interest in incorporating crypto into its existing payment framework is a sign for big things to come in the future, Andrew Colosimo, co-founder of Xaya \u2014 a blockchain gaming and digital asset management platform \u2014 told Cointelegraph that although the development itself is a positive signal, he\u2019s not entirely sure if it will have a major immediate impact on Bitcoin, adding:<\/p>\n<blockquote><p>\u201cTransaction fees could add $5+ on to existing costs unless Microsoft wants to make use of payment channels like the Lightning Network as some people in that thread have already suggested. Gamers will just pay whatever costs less. However, most importantly, nobody wants to spend their Bitcoin.\u201d<\/p><\/blockquote>\n<p>That being said, he did concede that if just one major player like Microsoft was to start taking BTC as payment, it could set in motion a ripple effect, causing other console operators to potentially follow suit.<\/p>\n<p>Similarly, Hatem Hachana, chief operating officer of Utopia Genesis Foundation \u2014 a blockchain-based platform for the tokenization of music rights, assets and royalties \u2014 believes that most gamers are already familiar with the concept of in-game purchases at this point, so simply adding a crypto payment option will not make that big of a difference even though it stands to draw some more mainstream adoption. <\/p>\n<p>He added: \u201cIf Microsoft adopts, Sony and Nintendo will for sure follow this path. Just looking at the whole space, everybody is adapting, moving forward and integrating crypto.\u201d<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Crypto_adoption_makes_sense\"><\/span>Crypto adoption makes sense<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>It seems quite likely that Microsoft may be seeing a new trend around crypto, especially with the nonfungible token market \u2014 a space that has been soaring recently. To put things into perspective, the digital collectibles market has seen its value rise substantially over the last few months, with an increasing number of celebrities cashing in on the trend of digitizing their works.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>NFT \u2018art revolution\u2019: Beeple on his 5,040-day labor of love<\/em><\/strong><\/p>\n<p>For example, Twitter CEO Jack Dorsey\u2019s first-ever tweet has been recently sold in the form of an NFT for a sum of $2.9 million. Similarly, Mike Winkelmann \u2014 the artist known as Beeple \u2014 has recently sold one of his works via auction house Christie\u2019s for a whopping $69 million, making him one of the most valued artists in the world today. <\/p>\n<p>Thus, it stands to reason that Microsoft may once again be looking to explore this ever-evolving space and potentially expose its extensive customer base \u2014 with the number of people who own an Xbox One console <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.statista.com\/statistics\/1005403\/global-xbox-one-console-unit-sales\/#:~:text=Global%20total%20lifetime%20sales%20of,million%20units%20in%20November%202020.\">touted<\/a> to be around 48.69 million \u2014 to the digital asset market. In the end, if BTC comes back onto the platform as a payments method, it would mark it as a moment of redemption for the cryptocurrency, suggesting that it could stay there for a while longer than before.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"defi_newsletter\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/microsoft-waffling-over-bitcoin-btc-s-return-to-xbox-unlikely-to-spur-adoption\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Microsoft waffling over Bitcoin? BTC\u2019s return to Xbox unlikely to spur adoption &#8221; Microsoft has been sending mixed signals when it comes to its true intentions regarding Bitcoin (BTC) as well as the cryptocurrency market in general. On one hand, Microsoft president Brad Smith gave an interview earlier this year, claiming that the multinational&#8230;<\/p>\n","protected":false},"author":1,"featured_media":210754,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDMvYzc3NjI1M2ItNmQ0ZS00YzhjLTk1MGYtMDcwMmQ5NzFjZDgxLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74355,117,80,70286],"class_list":["post-210753","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-adoption","tag-business","tag-games","tag-microsoft"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/210753","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=210753"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/210753\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/210754"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=210753"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=210753"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=210753"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}