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Exclusive: Overstock Ceo Says Bitcoin Sales To Add 4 Cents To 2014 Eps

Ron Burgundy

By Ron Burgundy,
in Tech News

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Ron Burgundy

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A Bitcoin (virtual currency) paper wallet with QR codes and coins are seen in an illustration picture taken at La Maison du Bitcoin in ParisBy Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Overstock.com Inc's sales through bitcoin are expected to add 4 cents per share to its earnings this year, the online retailer's chief executive, Patrick Byrne, told Reuters. Bitcoin sales at Overstock , which started accepting this type of currency as payment for items on its website in January this year, have exceeded $2 million so far, or about one-quarter of 1 percent of total sales. By the end of the year, Byrne expects Overstock to do $1 million in bitcoin sales per month. Overstock, which uses Coinbase as a payment processor, has been at the forefront of the bitcoin revolution.




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