Overstock.com surpasses $1 Million in Bitcoin sales

Retail Editor 5, March 4, 2014

Salt Lake City - Overstock.com sold over $1 million in product to Bitcoin users since the online shopping site started accepting the cryptocurrency on Jan 9.
Out of the 4,300-plus Bitcoin customers, Overstock.com, a discount online shopping retailer, estimates almost 60% to be new customers. "We did not expect to hit this milestone so quickly," stated Overstock.com chairman and ceo Patrick M. Byrne.
Overstock.com was the first major online shopping site to accept Bitcoin. Byrne has said that he admires Bitcoin because it is not controlled by a central authority and is similar to gold in that its supply is constrained.
Overstock.com is partnering with San Francisco-based Coinbase.com to process the payments and handle the conversion of Bitcoin into U.S. dollars.

Featured Video

  • Live From New York: Fashion Comes Across the Pond

    Camera Icon More Videos

Subscribe to
Home & Textiles Today eDaily
Receive the news you need to know about the trends in the industry delivered right to your inbox.

CURRENT ISSUE

HTT Cover October 2017

See the October 2017 issue of Home & Textiles Today. In this issue, we look at the Top 25 Online Retailers.  H&TT's exclusive annual ranking of the biggest online sellers of home textiles finds that while pure play etailers continue to fly, bricks & clicks are digging into omnichannel. See details!