Stripe to ditch Bitcoin support due to Volatility

Stripe to ditch Bitcoin support due to Volatility

Stripe has announced plans to stop supporting bitcoin on April 23 due to long transaction times and the volatility of the currency. That may not bother a lot of people, as the payment platform has seen a large decrease in bitcoin transactions.

Stripe’s Tom Karlo stated that he feels bitcoin is more of an asset than a currency and is not a great solution for quick transactions. He also added that Stripe has had a major decrease in bitcoin transactions. While this may not be an indicator true bitcoin believers will worry about  given the amount of bitcoin payment options out there, the issue of long delays combined with large spikes/drops in value are a legitimate concern.

Stripe began accepting bitcoin in 2014 and maintain that they remain optimistic on cryptocurrency. Stripe also has a stake in Steller and may add them to their platform in the near future.