Overstock.com Sells $10,000 Worth of Items in Bitcoin In a Couple of Hours
The news that Overstock.com today flipped the switch on taking bitcoin payments certainly took many of us by surprise, but the preliminary sales figures may surprise you even more. A patio set sold on Overstock.com and paid for in bitcoin. Source: Overstock. It's been a couple of hours since Overstock has had the option available, and already the retailer has sole a whopping $10,000 worth of items in bitcoin in that timespan. That amount comes from about 100 different purchasers, one of whom spent $2,700 on a 13-piece patio set. Overstock.com CEO Patrick Byrne told Business Insider that....
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Yesterday, Overstock.com took us all by surprise by accepting bitcoin about six months before they were originally expected to (Overstock CEO Patrick Byrne told me in an interview last year the integration was to happen in the second half of 2014). It wasn't long after that we followed up with a report indicating a whopping $10,000 in merchandise had been sold in bitcoin in the matter of about two hours. It has since been nearly 24 hours. So where are we now in terms of sales? An Overstock.com spokesperson told newsBTC this morning the company has raked in a massive $124,000 USD worth of....
Overstock.com CEO Patrick Byrne sent a tweet on 10th January, indicating that the company had sold $124,000 in goods via bitcoin in the 21 hours since it began accepting the cryptocurrency. After 21 hours on @overstock.com, we've had 780 #Bitcoin orders that accounted for $124,000 in sales. Wow! - Patrick M. Byrne (@OverstockCEO) January 10, 2014. That figure amounts to around 4% of daily revenues, based on the firm's 2012 figures. He also added in an interview with CNN that he believed Amazon would be forced to take bitcoin at some point, as the market is growing by 30% per month. Online....
Overstock.com is proving to the world of retail that accepting bitcoin can be a lucrative decision. On January 9th, the company rolled out its bitcoin integration (in partnership with Coinbase) some six months ahead of plan. It wasn't long before the world receive the first sales figures. In a matter of hours, over $10,000-worth of merchandise was sold in exchange for the digital currency. A day later, it was reported that about $130,000 in bitcoin sales had been made. Here we are, closing in on the end of January, and we haven't heard much. Until now. Forbes' Erika Morphy provides some....
Online retail giant Overstock has released new insight into the buying behavior of its bitcoin customer base, revealing bed sheets have become the demographic's favorite item to purchase. The top five items bought on Overstock with bitcoin are now sheets, donations to non-profits, headphones, cases and holders, and area rugs, respectively. Cables and tools, mattresses, coffee tables, A/V cables and fashion sunglasses round out the top 10 categories. Addressing the findings, Overstock director of communications Judd Bagley commented on the relatively mundane list of items as evidence of the....
In a great piece published by Kashmir Hill of Forbes, it has been noted that Overstock.com has managed to sell about $870k worth of items in bitcoin - amounting to "almost 4,000 orders." Meanwhile, the company's CEO Patrick Byrne has picked up millions of dollars worth of the digital currency, and he intends on keeping it. "I'm holding it like I hold gold. I want a robust safety net as things play out. I've always had misgivings about fiat currencies. Gold was the answer but it doesn't translate as well in the digital age," he said to Forbes. Byrne is seemingly dedicated to the cause now:....