Money Morning put out an article on who they see as likely winners in the market as relates to Bitcoin. Among their Bitcoin stock winners are companies such as Overstock.com and Tiger Direct. These were a couple of the early movers when it comes to accepting Bitcoin on the retail level.
From the article:
Just because Bitcoin is a disruptive technology doesn’t mean we won’t see some Bitcoin stock winners – companies that will exploit the digital currency for the benefit of their own businesses.
We can find Bitcoin stock winners in several industries. Some are reaping a benefit now, while others will need to wait a few years until Bitcoin “goes mainstream,” and average people start using it.
One industry that falls into the latter category is retailers, and online retailers in particular. Right now offering Bitcoin as a payment option is not going to be a major part of anyone’s business, but it figures to grow as the Bitcoin ecosystem matures.
Bitcoin appeals to merchants because the 1% fees that processing companies like Coinbase and BitPay charge are much lower than the 2% to 3% fees they pay to credit card companies like Visa Inc. (NYSE: V) and MasterCard Inc. (NYSE: MA). Plus, because the transactions include no personal data, Bitcoin is more secure than credit cards or debit cards.
But the first movers in this area – Overstock.com Inc. (Nasdaq: OSTK) and Tiger Direct (a subsidiary of Systemax Inc. [NYSE: SYX]) – have reported some very promising early results.
Read the full article here