Overstock.com CEO Shares More Details on Bitcoin Acceptance
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....
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On Tuesday morning at the Money 20/20 Conference in Las Vegas, Patrick Byrne, CEO of Overstock and t0, announced the historic arrival of trading publicly offered Overstock shares on the t0 blockchain. Overstock Moving Forward With t0. Starting on December 15th, individuals who purchased Overstock shares by the November 7th record date will qualify to purchase shares of its preferred stock, including preferred shares to be issued and traded exclusively on the t0 platform. As such, Overstock will become the first company to legally trade a publicly listed security on a blockchain solution.....
Online retailer Overstock.com has closed the first-ever Series A preferred funding round with shares sold on a blockchain. Of the total $10.9m raised from existing shareholders, about $1.9m was raised via shares traded on the tØ blockchian platform developed by Overstock.com subsidiary Medici. The Series A consisted of 126,565 shares sold on the tØ blockchain platform for $15.68. A separate Series B consisted of 569,333 shares sold using traditional technology. The company had originally set out to raise as much as $30m from selling 2m shares. Shares traded on the blockchain platform....
E-commerce giant Overstock’s blockchain stock sale is set to begin later this month. Overstock announced today that Connecticut-based investment bank Source Capital Group, Inc. will serve as dealer-manager for its planned blockchain-based stock offering. In March, the e-commerce giant said that it would issue its own stock via blockchain, utilizing its tØ blockchain platform to facilitate trades. During an event last month, Overstock CEO Patrick Byrne said that trading of the stock could begin as early as mid-December. Now, the company has divulged new details. According to Overstock, the....
In a Form S-3 filed with the SEC on November 10, Overstock.com sought approval to issue up to $500 million in new securities "from time to time" in the form of common stock, preferred stock, depositary shares, warrants, debt securities or units. But approval of this S-3 is in not an immediate sign that Overstock is issuing any securities. "This prospectus provides you with a general description of the security we may offer," Overstock wrote in its S-3. "Each time we sell securities, we will provide a prospectus supplement that will contain specific information about the terms of that....
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.....