Stripe will no longer supporting bitcoin payments by April this year, the company announced yesterday. Stripe said that customers aren’t using bitcoin as a method of payment as often anymore. The company plans to slowly end support with the cutoff point being April 23rd.
It’s a total reversal of the company’s position four years ago, when it announced it would become the first payment platform to accept bitcoin, citing bitcoin’s potential to be bought by anyone. At the time, Stripe CEO and co-founder Patrick Collison very aptly said,
“We acknowledge that bitcoin is important today … it may or may not be important in five years.”