Overstock Says Bitcoin a Hit With Consumers

Digital currency Bitcoin has been a big hit at Overstock.com, according to Tweet by the company’s CEO.

“Bitcoin’s first full day on Overstock.com was a huge success: 840 orders, $130,000 in sales,” wrote CEO Patrick Byrne. “Almost all new customers.”

Overstock announced it would begin accepting the cyber cash last month. 

In an interview with CNN, Byrne predicted that other big e-tailers will soon accept it as well.

“I actually think that this forces the hand of Amazon and some other big players,” he said. “They have to follow suit. You will see them follow suit, I’ll be stunned if you don’t, because they can’t just cede that part of the market to us, if we’re the only main, large retail site taking Bitcoin.”

Still, not many people appear to be using it to buy jewelry.

Byrne tweeted that the biggest-selling items among users were “sheets, mobile phone cases, flash drives, bath towels. I expected more video cards.”

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JCK News Director