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First major US retailer to accept Bitcoin in the second half of 2014

Overstock.com, a major US retailer, will accept Bitcoins as payment in the second half of next year

| Business, Financial & Legal News | Posted: Dec 22, 2013 5:34 am

Overstock.com CEO, Patrick Byrne, has said that his company would be one of the first to accept Bitcoin, where it will accept the digital currency in the second half of next year.

 

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Byrne spilled the news during an interview with the Financial Times, where he said there is going to be a market in Bitcoin, and he wanted his company to embrace it. Byrne believes Bitcoin will hold its value better than the fiat-based dollar, thanks to the fact that it is mathematically constrained, versus the limitless printing of the dollar through the Federal Reserve and government authorities.

 

The Overstock.com CEO stated that his company would bank the digital currency in the event that similar digital funds increase in popularity. If, however, the digital currency begins to deflate, the company would transfer Bitcoins to dollars on a daily basis.

NEWS SOURCES:Techspot.com

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