05 Mar '14, 6pm

Overstock Exceeds $1million in Bitcoin Sales and Projects up to $20 million by the end of the year.

The initial projections for sales processed with bitcoin on Overstock.com this year was set at $3-5m, but this figure has since increased dramatically, according to Byrne. The CEO now predicts that Overstock will see a total of $10-15m in bitcoin sales this year, and suggested that this number could reach as high as $20m if bitcoin sales maintain their current growth rate. New data Overstock partnered with Coinbase to process bitcoin payments, and together the two companies have compiled and released data that shows the spending habits of bitcoin users on Overstock, notably comparing them to credit card users. The findings show that customers who use bitcoin as a payment method spend on average $58 (34%) more on their orders than customers using credit cards.

Full article: http://www.thedomains.com/2014/03/05/overstock-exceeds-1m...

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