3% of Overstock Bitcoin Profits to Be Used to Spread Bitcoin Adoption

3% of Overstock Bitcoin Profits to Be Used to Spread Bitcoin Adoption

Patrick Byrne announced he will donate 3% of all Overstock Bitcoin payments to promote the spread of Bitcoin around the world. Overstock CEO Patrick Byrne delivered the keynote address at Saturday'sBitcoin in the Beltway conference. He spoke a lot about the past, but he also talked about Bitcoin's future. Specifically, Byrne announced a timetable for international Overstock Bitcoin payments and revealed a plan to donate "3% of all Overstock Bitcoin sales" to organizations working to promote cryptocurrency around the world. 3% of Overstock Bitcoin Profits to Be Used to Spread Bitcoin....


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News Summary: June 22-28

Overstock making strides again with Bitcoin adoption! Unlike many companies that use Bitpay and Coinbase as a processor and immediately convert to fiat, Overstock actually holds 10% of Bitcoin received as Bitcoin. In fact, according to Patrick Byrne when he delivered his keynote address on Saturday at the Bitcoin in the Beltway conference, 3% of Bitcoin sales from Overstock will be used to spread awareness of it. Also, Patrick is hard at work on trying to get Overstock internationally (Bitcoin is only accepted in US as of writing) to accept Bitcoin. As if you cannot tell, Patrick is a....

Overstock Pledges 3% of Bitcoin Profits to Promote Cryptocurrencies

US online retailer Overstock has pledged to donate 3% of profits generated through bitcoin sales to advocacy organisations that promote digital currencies. Patrick Byrne, the company's CEO, made the announcement at the Bitcoin in the Beltway conference, held in Washington DC over the weekend. Overstock later told CoinDesk that the decision to donate a portion of its bitcoin sales revenue is "a new one" and that it is still "working out the details". Notably, however, the Overstock spokesperson indicated that revenue donated by the company will not go solely toward bitcoin advocacy: "Any....

Overstock to Donate 4% of Bitcoin Revenue to Organizations Promoting Bitcoin Adoption

Overstock CEO Patrick Byrne announced that Overstock will donate 4% of their Bitcoin revenue to organizations promoting Bitcoin adoption. At this point in time, Overstock has selected the Chamber of Digital Commerce as the first organization that will be donated to. "The cryptocurrency movement is at a critical stage in its evolution. Adoption among the technorati is fairly pervasive, but it needs to make its way into the lives of the masses in the developed and developing worlds, while avoiding the obstacles that uninformed intervention by lawmakers could impose. The Chamber of Digital....

New FCA Rules Could Reduce UK Bitcoin Spread Betting Appeal

The UK Financial Conduct Authority (FCA) has proposed stricter rules for Contract for Difference (CFD) products which include financial spread betting. While illegal in the US, spread betting is legal in the UK. Bitcoin spread betting is available through some of the country’s largest CFD operators, such as IG Group. What is Spread Betting? Spread....

Overstock Donating 4% of Bitcoin Revenue Toward Cryptocurrency Adoption

Online mega-retailer Overstock.com earlier this year announced plans to donate a portion of their bitcoin revenue to cryptocurrency-related causes, and today, the Utah-based company has confirmed the plans. Overstock says they'll be donating 4 percent of bitcoin revenues toward cryptocurrency adoption - something company CEO Patrick Byrne (pictured) has evidently become passionate about since announcing Overstock's support for bitcoin late last year. Coupled with the announcement today was news that Overstock has chosen Perianne Boring's Chamber of Digital Commerce as the initial recipient....