Overstock Reports Over $100k in Crypto Losses for Q1 2015
US retail giant Overstock lost $117,000 on its investments in cryptocurrencies during the first quarter of 2015, according to the company's latest quarterly earnings report. Overstock listed its cryptocurrency holdings as valued at $233,000, down from $340,000 on 31st December. Long one of the largest merchants in the digital currencies space, Overstock had previously indicated that it was holding as much as 10% of its proceeds from such sales in bitcoin. The filing suggests Overstock is still holding the funds in bitcoin, as it noted subsequent increases in the value of bitcoin could be....
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Overstock's shares rise following the announcement of its Q3 earnings report showing losses of over $3.9 million. Overstock, the leading online retailer known for its foray into the digital currency technology sector with T0.com saw its shares go up by over 19%. The good news follows the company’s Q3 earning report, which has been disappointing at best. The earnings report, published on Thursday shows that the company has lost over $3.1 million in the last three months. According to reports, Overstock’s revenues in the third quarter has been around $441.6 million, but the losses were due....
Major online retailer Overstock.com plans to accept bitcoin as payment from the second half of 2014, according to various reports. Website newsBTC first broke the news, with reports in MarketWatch and FT.com later confirming with Overstock.com's CEO, Patrick Byrne. The company had hinted at accepting bitcoin in a New York Times interview in October, but Byrne said he was waiting for more legal clarification before going ahead. It now seems to be moving towards a more definite schedule. With over a billion dollars in annual revenue, Overstock.com (increasingly branded as O.co) would be by....
Bitcoin supporter Overstock.com, led by long-time Bitcoin supporter CEO Patrick Byrne, are projecting three million US Dollars in overall sales for merchandise purchased with Bitcoin for 2014. The amount is a marked drop from the fast start projections Overstock claimed early on, based on the initial flurry of Bitcoin activity the once-largest Bitcoin merchant experienced early on. Overstock Initial Forecast Was Over $10M for 2014. Overstock has spent almost the entire year accepting Bitcoin, taking their first orders on January 9th, netting almost 800 orders and over $100k in revenue from....
Online retail giant Overstock reported a total of $117,000 in losses for its cryptocurrency investments in the first quarter of 2015. According to the company's earnings report, its cryptocurrency holdings fell in value from $340,000 to $233,000 during the reporting period. Recent price declines in bitcoin were probably one of the biggest factors for the loss, as the company holds as much as 10% of its proceeds in the cryptocurrency. In its latest SEC filing, the company noted that it receives all bitcoin payments via a third party denominated in US dollars. Cryptocurrency Losses. At....
Article now includes comment from Overstock's Judd Bagley. Online retail giant Overstock has announced plans to offer its employees a bitcoin bonus scheme. Overstock representative Judd Bagley told Mashable that the company is "trying to figure out" how it can pay out bitcoin bonuses and aims to get the program in place by the end of the year. Under the scheme, Overstock employees will be incentivised to accept their bonuses in bitcoin by offering a premium over cash payments. Bagley told CoinDesk: "The first step will be to offer to pay employees their annual bonuses in bitcoin. Those....