Bitcoin Forum

Bitcoin => Press => Topic started by: cescan on August 01, 2014, 10:07:49 AM

Title: [2014-08-01] Overstock to Pay Employee Bonuses in Bitcoin
Post by: cescan on August 01, 2014, 10:07:49 AM

Bagley added that Overstock's bitcoin sales just recently eclipsed $2 million. "We experienced an initial surge, there was a lot of excitement," he said. "It settled into something a little more predictable." Bitcoin sales account for about a 0.25% of the average day's sales, he says. Overstock posted revenues of $673.7 million in the first half of 2014.

On the upside, such sales require little work on Overstock's part. The transactions are handled by Coinbase, which bases its calculations on the price of Bitcoin at the moment in which the sale occurs. The company is looking to handle the transactions directly at some point.