Overstock's Patrick Byrne: Bitcoin Sales Will Add 4 Cents to 2014 EPS
Some interesting news surfacing from a Reuters exclusive on this Wednesday evening. The news agency's report indicates that Overstock.com's bitcoin sales will add an estimated four cents to the company's 2014 EPS (earnings per share) figure. Word came from the company's head honcho, Mr. Patrick Byrne, who spoke to the outlet directly. Already this year, Overstock.com has managed to pull in a whopping $2 million worth of bitcoin sales on a slew of different items, and Byrne (who's generally quite ambitious) says he's expecting the company to rake in between $4 and $6 million worth of....
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For the countless bitcoin enthusiast who were unable to make it to Bitcoin 2014 in Amsterdam (myself included), you've probably been looking for a video of Mr. Patrick Byrne's keynote. Thankfully, the folks at "Coinsider This!" have posted the video many of us have been waiting to see: https://www.youtube.com/watch?v=bkf04kQw1YU. Patrick Byrne, as you might be aware, is the CEO of Overstock.com. He rose to fame in the bitcoin community last year, when he announced (to NEWSBTC first) that his company would soon be accepting bitcoin. During my interview with Patrick, he originally aimed....
US online retailer Overstock is now selling an average of $15,000 worth of goods for bitcoin every day, according to the company's CEO. Speaking to Reuters, Patrick Byrne said he expects bitcoin sales of $6m to $8m this year and confirmed that Overstock's cumulative bitcoin sales have now passed the $2m mark. Byrne added that he expects bitcoin sales to reach $1m per month by the end of the year, up from upwards of $300,000 per month earlier this summer. The retailer reached its first million dollars in bitcoin sales in early March and reported a total of$1.6m in bitcoin purchases in late....
As the first major retailer to accept bitcoin payment, many have keenly watched Overstock.com; they are expecting $3 million in bitcoin sales for 2014. Projections of the 2014 bitcoin sales for this retail powerhouse have been all over the board, and speculated by many. When bitcoin payment on Overstockfirst became available in January of this year, the sales were far beyond company expectations. Early projections from the first couple of months of this year had bitcoin sales as high as $10-20 million for 2014. CEO Patrick Byrne stated that Overstock originally anticipated $5 million in....
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.....
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....