Tech content trusted by users in North America and around the world
6,412 Reviews & Articles | 42,725 News Posts

Overstock estimates $6 million to $8 million in 2014 bitcoin sales

Overstock is seeing millions in bitcoin-related sales, and plans to continue to back the popular cryptocurrency (NASDAQ:OSTK)

| Business, Financial & Legal News | Posted: Aug 14, 2014 8:23 pm has seen $15,000 per day in bitcoin sales, totaling $300,000 per month, serving as one of the leading brands now accepting the cryptocurrency. Accepting bitcoin is reportedly going to add 4 cents per share to the company's financial earnings in 2014, and sales have exceeded $2 million.




The company expects to see anywhere from an estimated $6 million up to $8 million in bitcoin sales this year, with new customers now shopping with the e-tailer.


"We're in bitcoin for the long haul, I intend to make it permanent," said Patrick Byrne, Overstock CEO, in a statement to Reuters. "Cryptocurrencies like bitcoin are going to be around for as long as the law of mathematics works."


As other retailers begin considering bitcoin as a legitimate payment method, hearing Overstock's experiences with the cryptocurrency could be helpful. More than 60,000 retailers already accept bitcoin, and there is a growing number of major companies willing to explore the digital currency.


Related Tags

Further Reading: Read and find more Business, Financial & Legal news at our Business, Financial & Legal news index page.

Do you get our news RSS feed? Get It!

Got an opinion on this news? Post a comment below!

Latest News Posts

View More News Posts

Forum Activity

View More Forum Posts

Press Releases

View More Press Releases
Or Scroll Up Or Down