Stripe Officially Ditched Bitcoin

Bitcoin is drifting around the $11,000 mark. CEO said the company would not accept Bitcoin as a form of payment. 

Stripe, an Irish technology company, said it would become the first major online payments platform to accept Bitcoin on its payment platform 4 years ago.  It is ditching the idea now.

The company said the cryptocurrency had become a victim of its own popularity.  The time and costs needed to complete a transaction have increased so much that it is as expensive as the bank wires.  The company said it didn’t make sense to keep allowing merchants to accept a payment method that no one wanted to use.

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