A technical glitch at Microsoft is taking its toll worldwide: banks, airports, etc. are collapsing. Bitcoin, on the other hand, is working perfectly.
A widespread technical glitch at Microsoft is causing service disruptions worldwide, affecting industries from airlines to emergency services to banking transactions, Bloomberg reports. Even the London Stock Exchange has been impacted, prompting the Australian government to call an emergency meeting.
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“We are investigating an issue that prevents users from accessing various Microsoft 365 applications and services,” Microsoft announced on X (formerly Twitter).
This global outage affects computers running Microsoft’s operating system across the globe. Reports suggest the problem is linked to global cybersecurity company CrowdStrike. In premarket trading, CrowdStrike’s stock (CRWD) saw a significant drop, while Microsoft’s stock (MSFT) also declined.
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While customers of various banks, such as Sparkasse, are reporting outages, the Bitcoin network continues to operate smoothly. The decentralized nature of Bitcoin provides resilience against such failures, a point often emphasized by Bitcoin advocates against the centralization of financial systems.
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Remarkably, the Bitcoin network has experienced 4,140 days—11 years and four months—of uninterrupted operation, boasting an uptime of 99.98 percent. This makes the BTC blockchain one of the most reliable networks ever.
At the time of writing, Bitcoin, the largest cryptocurrency by market capitalization, is trading at $64,000, down 1.27 percent for the day.
