Microsoft is the latest tech giant to confirm that the cryptocurrency has to play in the mainstream sector. The software company has added support for the digital currency in Microsoft Excel, integrating the symbol of Bitcoin.
₿ - Bitcoin
With the integration, Microsoft Excel users can add Bitcoin Symbol when recording financial data in Office. Bitcoin symbol has supplemented symbols of other major currencies such as the Dollar, Euro, and British Pound.
However, it is still unclear whether Microsoft is planning to incorporate symbols of other popular cryptocurrencies onto the Office package, it appears that the software giant is quite supportive of crypto.
The integration affirms suggestion that Bitcoin is no longer a fad, but rather a phenomenon set to stay, as more people continue to embrace digital assets. Microsoft adding support for Bitcoin affirms its confidence about the cryptocurrency phenomenon.
The company became one of the earliest big names to embrace digital currencies after adding support for Bitcoin in 2014.
Microsoft continued to warm up to the cryptocurrency drive in 2018 having joined big corporate names including Starbucks and Intercontinental exchange in the launch of Bakkt Platform. The integrated platform seeks to make it easy for consumers and institutions to buy, sell, and store digital assets on a global network.
Also, the tech giant has gone higher, having built and launched a decentralized identity tool on the Bitcoin blockchain.
Miscofost recent innovations on blockchain
Microsoft has recently announced a new, early preview of a distributed identity system on the BTC blockchain that can offer an alternative to systems like Facebook Login ( social network authentication service for users across iOS, Android, the web, Windows 10, and other devices.)
The newest Microsoft's answer to this challenge is ION (that is Identity Overlay Network), which is an identity system that offers a different online identifier to ones used today, such as a Google Gmail addresses or a user name from a particular app, like Facebook.
Growing popularity
Microsoft's keen interest in Bitcoin does not come as a surprise; for starters, it is the most secure blockchain that continues to elicit keen interest from people around the world. The stance also affirms Microsoft's firm belief that Bitcoin has what it takes to survive all the other projects.
A resurgence following a dramatic plunge below the $4000 mark last year has once again underscored Bitcoin long-term prospects. The cryptocurrency has since retaken the $8,000 mark after turning bullish in recent months.
Bitcoin bounce back could also be attributed to improved sentiments in the market. Both retail and institutional investors are increasingly betting on the cryptocurrency, having become clear that mainstream adoption is on the horizon.
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