Overstock.com to Begin Accepting Bitcoin Second Half of 2014
In late October, there was a brief mention of retailer Overstock.com in a New York Times piece that noted the online retailer was considering accepting bitcoin, but decided they would put a hold on that objective (partially due to the fact that bitcoin is still a 'gray area' in terms of financial law). It would appear that Overstock is once again revving their engines on that front, with the company telling newsBTC that they plan to begin accepting bitcoin in the second half of 2014 - making them the first big retailer in the space to do so. The announcement comes directly from....
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In a newsbtc.com exclusive, Overstock CEO Patrick Byrne told Eric Calouro of newsBTC in a phone interview that they plan to accept Bitcoin starting in the second half of 2014. This is incredible news considering how large of a retailer Overstock.com is at over $1 billion USD in revenue annually. What's even more promising from the news is that Byrne admitted that the company is still working out the logistics for accepting Bitcoin, but they might not go with Coinbase and/or BitPay. Overstock.com might work independently of Bitcoin payment processors entirely by implementing their own....
The price of bitcoin reached $1,000 again today on Japan-based bitcoin exchange Mt. Gox, following the news this week that online retailer Overstock.com had started accepting bitcoin as a payment method. The peak this time around was $1,011 on Mt. Gox. Not a record but surely a notable threshold to surpass once again. The last time it broke through to four digits was back on 5th January amid news that Overstock would embrace bitcoin at some point later in the year - but it turned that around faster than everyone expected. On 7th January, the Gox price reached $1,041.99. Around the same....
This week, we told you about Overstock.com's plans to start accepting bitcoin in 2014. Some more information is coming to light. In a conversation with CoinDesk, Overstock.com CEO Patrick Byrne said that the decision on whether or not to work independently of digital currency payment processors is something that may happen in the next two weeks. "We'll probably be working with the third parties. There are a few different ones that are interested in our business. It makes sense to work with them rather than developing it from scratch," said Byrne. The company will begin accepting bitcoin in....
We've been hearing for weeks that online retail giant Overstock.com was approaching $1 million in sales done in bitcoin. The time has come, and Overstock.com today announced they have indeed passed the $1 million mark. "We did not expect to hit this milestone so quickly," said Overstock CEO Patrick Byrne. "Bitcoin customers are good customers, and we're pleased to provide them this service." Since accepting the digital currency on January 9th, over 4,300 customers (60 percent of them new customers) have paid for their products in bitcoin. Popular items sold include mobile phone cases and....
Source: @OverstockCEO, Twitter. Just announced this morning by the Bitcoin Foundation is news that Overstock.com CEO and Chairman Patrick Byrne will be the keynote speaker for the Bitcoin 2014 Conference taking place between May 15th-17th in Amsterdam. Byrne made news in late 2013 when he announced first to newsBTC that his company would be accepting bitcoin in 2014. At the time of my interview with Byrne, he projected that bitcoin payments would begin some time in the second half of this year. Due to overwhelming press attention, however, the company worked tirelessly to enable bitcoin....