Overstock CEO says the company made $130,000 in first day of Bitcoin sales.
#Bitcoin's first full day on @overstock.com was a huge success: 840 orders, $130,000 in sales. Almost all new customers. #stunned
— Patrick Byrne (@PatrickByrne) January 10, 2014
Patrick M. Byrne did an interview on CNN which was interesting and worth watching. The interviewer and Byrne have a good back and forth where she is skeptical of Bitcoin to go mass market. Byrne respectfully disagreed.
He does mention they are always trading out of Bitcoin and do not hold it. He says until his suppliers will accept it he will not hold. The interviewer asked if he saw other retailers accepting Bitcoin ? He replied that they will as they cannot cede the market to Overstock.
If you are interested in Bitcoin this is an interview worth watching.
sounds good but how much of that $130k was stolen/hacked bitcoins?
@cmac … I was thinking in starting accepeting bitcoins … it’s not safe?
oxymoron $130K in bitcoins – pojnt being why does another currency have to be used in comparison
I think Brian they are saying that because they are converting right away. He said they are not holding any Bitcoin, even though he says he is someone who does not like fiat currency and is a major fan of Bitcoin. As a public company he cannot afford to take the risk of selling product at Bitcoin $800 and then it drop to $400.