Overstock.com Reeling In $20k-$30k Daily In Purchases Paid For With Bitcoin
Overstock.com seems to be doing just fine on the front of bitcoin acceptance. Since enabling bitcoin payments in early January, the company has brought in over $1 million USD worth of bitcoin purchases, and that number continues to go up. A report from Business Insider, who recently spoke to the company's CEO Patrick Byrne, indicated that the company is reeling in a good amount of money from purchase paid for in bitcoin. "There was a huge surge [in Bitcoin spending] the first day, with people showing support," Byrne said. "It's since dropped to $20k to $30k per day, but it's gradually....
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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....
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.....
Online outlet store Overstock.com is to launch a special rewards program that will give bitcoin buyers 1% back in the form of Club O dollars, the company's in-house rewards points. Speaking to CoinDesk, Overstock CEO Patrick Byrne said the scheme is expected to debut in approximately four weeks, although he did not commit to a definitive timeline. The program will not provide an instant discount on orders, but will instead give 1% of the total purchase value back to buyers to be applied to future purchases. Byrne did not provide further details of how the program would work, or whether it....
Employees at Overstock.com have another option when it comes to receiving their paycheck - bitcoins. The discount online retailer Overstock.com announced on Friday it is planning on offering its employees the option of being paid in Bitcoin. The announced was made in a release about a Bitcoin ATM that was installed at its corporate headquarters in Salt Lake City. It is the one year anniversary of when the company first announced it would be accepting bitcoin as a form of payment. Also read: Overstock to Pass $3 million in Bitcoin Sales in 2014. Overstock.com Offers Staff Bitcoin. In his....
Online retailer Overstock.com is already well known in the digital currency space as being one of the first major retailers - and the first publicly traded company - to adopt bitcoin as a payment method for its goods. Now, the company has gone a step further in its embracing of digital currency, with two major steps forward revealed today. First, that overstock will soon offer its staff the option to be paid in bitcoin. The move makes sense, since overstock likely has a large holding after customers have making more than $3 million worth of purchases since January last year. Chief....