Overstock.com reports $300,000 a month earnings from Bitcoin sales

Print Friendly, PDF & Email

IMG_1388

As shown on Coinmap, the number of businesses accepting bitcoins in Switzerland as payments for goods or services is on a very positive upswing. Elsewhere, Overstock became earlier this year the first major retailer to accept this digital currency. Currently receiving more than $300,000 a month from Bitcoin sales, CEO Patrick Byrne expects Overstock to reach monthly sales of $1 million by the end of the year. This would represent between $6 and $8 million in Bitcoin sales in 2014 (out of a projected total sales of $1.5 billion).

With 2 to 3 per cent savings in transaction costs in relation to a credit card payment, Bitcoin transactions have a significant impact for retailers like Overstock which has “razor-thin margins”. “We’re in Bitcoin for the long haul, I intend to make it permanent,” said Byrne. Overstock plans to accept Bitcoin payments from international customers, including Switzerland, by mid-September this year.

Source: Reuters,  Gertrude CHAVEZ-DREYFUSSExclusive: Overstock CEO says bitcoin sales to add 4 cents to 2014 EPS

photo credit: zcopley via photopin cc

Laisser un commentaire

Votre adresse e-mail ne sera pas publiée. Les champs obligatoires sont indiqués avec *

Ce site utilise Akismet pour réduire les indésirables. En savoir plus sur comment les données de vos commentaires sont utilisées.