Bitcoin's price volatility has resulted in Microsoft Corp. (MSFT) removing the cryptocurrency as a primary payment option.

Microsoft was an early, if tenuous, supporter of bitcoin, allowing users to use the digital currency as payment for certain services. Former CEO Bill Gates has also publicly praised bitcoin as better than currency

"Bitcoin is exciting because it shows how cheap it can be. 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," Gates was quoted as saying in 2014. 

However, a user of photo-hosting site Imgur posted a screencap of an exchange he supposedly had with Microsoft's tech support in which he was informed that bitcoin would no longer be an acceptable form of payment. 

"Bitcoin can no longer be used as a payment instrument on your account," the message to the anonymous user said. "Since the announcement of the meltdown of the Bitcoin, we as well decided to cut its usage," the message continued. 

Microsoft still accepts bitcoin, but only as a way to pre-fund users' account balances, according to crypto-blog TheMerkle. 

Bitcoin was up 0.54% to $14,517.11 in afternoon trading Wednesday. 

Microsoft is a holding in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells MSFT? Learn more now.

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