The importance of Overstock's Bitcoin sales

The importance of Overstock's Bitcoin sales

Overstock CEO Patrick Byrne keeps believing in Bitcoin's future. Overstock was one of the first major online retailers to accept Bitcoin as a payment method. The announcement was a big step for Bitcoin. The cryptocoin is trying to find mainstream acceptance and events like this are important when trying to convince common people to start using Bitcoins. Small Bitcoin revenue. Right after announcing the possibility to pay with Bitcoins, Overstock saw massive purchases made with the virtual currency. Earlier this month, Overstock said they crossed the million dollar mark in Bitcoin payments.....


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Overstock's 2014 Bitcoin Sales Miss Projections at $3 Million

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Overstock.com under-estimated potential Bitcoin sales. Based in Salt Lake City, Overstock.com surprised retailers and Bitcoin enthusiasts alike when they began accepting Bitcoin for payment on January 9th, roughly five months ahead of their initially stated schedule. Now it seems that their hard work has paid off, as Overstock has now surpassed $1 million in Bitcoin sales, said CEO Patrick Byrne in an interview. While the $1 million pales in comparison to the $1.3 billion of revenue the company brings in, Byrne has also said that instead of converting the bitcoins to dollars, the company....