Stripe.com 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.