Xiaomi is Not Accepting Bitcoin for Payments in Portugal, Claims Xiaomi

ByEdward Thompson

Aug 9, 2021

As per the latest reports, Xiaomi has gone ahead denying any claims made against one of its outlets dealing in cryptocurrencies. It was claimed that Xiaomi’s shop in Portugal was involved in accepting cryptocurrencies and the preferred cryptocurrency was Bitcoin (BTC).

Following the claims made about Xiaomi’s shop, the electronics manufacturer from China has completely denied such information. It has been reported that it is not involved in accepting any cryptocurrencies at any of its outlets, both locally and internationally.

Mi Store Portugal is a famous name in Portugal, which is a major retailer for Xiaomi phones in the country. It was claimed that the particular store had reportedly started accepting cryptocurrencies. The announcement was made by the Mi Store Portugal through its Facebook page.

In the announcement, the shop revealed that the customers would be able to make purchases from its location through cryptocurrencies. The shop also announced that for the time being, it would only accept five different kinds of cryptocurrencies.

The names of these five cryptocurrencies are Utrust token (UTK), Dash (DASH), Tether (USDT), Ether (ETH), and Bitcoin (BTC).

The announcement made by the retailer spread like a wildfire all over the cryptocurrency industry and Xiaomi had to intervene to clear out any confusion.

The spokesperson for Xiaomi had to jump in and handle the situation before it could impact the company’s reputation and subsequently impact the stock prices of the company.

The Xiaomi spokesperson had to intervene by releasing a public statement through Weibo, a social media platform in China. The spokesperson revealed that Mi Store Portugal is not owned by Xiaomi. The particular store is an independent retailer, which is a dealer in Xiaomi and not company-owned.

The spokesperson stated that the news of the Mi Store Portugal accepting cryptocurrencies was also an eyebrow-raiser for the Xiaomi executives. However, the store is independent and Xiaomi deals with it as a third-party partner authorized to sell its products.

Following the spread of the news and the statement released by the Xiaomi officials, the post from the particular store’s Facebook page was subsequently removed. There are high chances that Xiaomi officials approached the store demanding them to take down the announcement.

The reports suggest that the announcement from the particular store’s Facebook page was removed on August 6, 2021. The store even went ahead and removed all necessary information from its website that was related to cryptocurrencies.

Before being taken down, it was announced on the shop’s page that the users would be able to select the cryptocurrency payment method when checking out online or from the store.

No matter what Xiaomi may now claim, the cryptocurrency adoption run has already been initiated.


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