Seeking Alpha

Overstock.com to accept Bitcoins starting in Q2

  • Overstock.com (OSTK +3.3%) will become the first major online retailer to accept Bitcoins starting in Q2 according to CEO Patrick Byrne.
  • Byrne: "Philosophically, we support Bitcoin."
  • The site does not plan to hold the currency but rather use a payment processor to convert Bitcoins to cash.
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Comments (4)
  • youngdub774
    , contributor
    Comments (99) | Send Message
     
    They don't accpet bitcoins, they accept cash. Using this idea I could trade my stocks for mechandise, I just have to convert them to cash first.
    19 Dec 2013, 03:35 PM Reply Like
  • Mark Romero
    , contributor
    Comments (111) | Send Message
     
    Seems bitcoin is gaining some traction. I wouldn't have expected a well known online retailer to take this route.
    19 Dec 2013, 04:30 PM Reply Like
  • bs77
    , contributor
    Comment (1) | Send Message
     
    Ok, philosophically...what... Doesn't the fact that it has been losing half of its value during a couple of days recently show it probably is a bad idea to get involved in this?
    19 Dec 2013, 06:10 PM Reply Like
  • joe2100
    , contributor
    Comments (4) | Send Message
     
    you forget that it went up 10x its value in a month. And no, its not a bad idea because they will save on payment processor fee's, get wordwide free advertising, and gain thousands of filthy rich customers from the bitcoin community.
    22 Dec 2013, 10:46 AM Reply Like
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