On December 11th Microsoft sided with one of the most disruptive technologies we’ve seen since the birth of the internet itself. That technology of course is bitcoin. In what some believe to be incredibly shocking move, Microsoft is now accepting bitcoin for a variety of their products and services. This includes everything from the Windows Store to Xbox Games. While the speed at which the $100 billion company jumped on the bitcoin train may be surprising, their interest isn’t. Bill Gates himself stated in October, “Bitcoin is better than currency in that you don’t have to be physically in the same place and of course for large transactions currency can get pretty inconvenient.”
This is just another large step towards the success of bitcoin and the blockchain protocol. Additionally, I believe this is just the beginning of a windfall of cryptocurrency adoption within the corporate/consumer space. This windfall will continue to add pressure within the political space inevitably adding regulation and thus finalizing the legitimatization of the global currency. With transaction volume increasing consecutively 6,000% or more year after year and up to a 1,000 merchants signing on a day, the best description I have for the future of bitcoin comes in the form of a 1920’s gospel song titled, “This Train is Bound for Glory.”
One of the less spoken of topics regarding the Microsoft news is the affect this will have on the gaming industry, of which Microsoft sits as a gorilla in the room. Currently the video game industry sits as a $100 billion annual business that continues to gain traction. Additionally there have been a number of large acquisitions within the space. Twitch, a website which broadcasts live video game tournaments, was just recently acquired by Google for a groundbreaking $1 billion. How does this relate to bitcoin? Well, simply put, in an industry that is completely digital, the ability to move products and assets effortlessly with little to no cost becomes a very powerful tool. This will undoubtedly spill into online casinos and sports betting houses which just furthers the adoption rate of bitcoin and the block chain protocol. Adoption is keystone to bitcoin success and The Coin Tree (www.TheCoinTree.com) is here to facilitate that growth.
-Andrew Durgee
CEO – The Coin Tree
