Overstock Reveals Items Most Often Bought With Bitcoin
Online retail giant Overstock has released new insight into the buying behavior of its bitcoin customer base, revealing bed sheets have become the demographic's favorite item to purchase. The top five items bought on Overstock with bitcoin are now sheets, donations to non-profits, headphones, cases and holders, and area rugs, respectively. Cables and tools, mattresses, coffee tables, A/V cables and fashion sunglasses round out the top 10 categories. Addressing the findings, Overstock director of communications Judd Bagley commented on the relatively mundane list of items as evidence of the....
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The news that Overstock.com today flipped the switch on taking bitcoin payments certainly took many of us by surprise, but the preliminary sales figures may surprise you even more. A patio set sold on Overstock.com and paid for in bitcoin. Source: Overstock. It's been a couple of hours since Overstock has had the option available, and already the retailer has sole a whopping $10,000 worth of items in bitcoin in that timespan. That amount comes from about 100 different purchasers, one of whom spent $2,700 on a 13-piece patio set. Overstock.com CEO Patrick Byrne told Business Insider that....
Rob Wile over at Business Insider published a great post on Monday evening with some data that's come from Overstock.com from purchases last Thursday. That was, of course, the day in which the online retailer began accepting bitcoin payments - six months ahead of the originally-projected timeframe. The company managed to sell $130,000 worth of items for the digital currency that day, and Wile reports that sheets, cell phone cases, USB memory sticks, and bath towels were the most popular items amongst shoppers looking to spend their bitcoin. The states with the most bitcoin buys on....
Yesterday, Overstock.com took us all by surprise by accepting bitcoin about six months before they were originally expected to (Overstock CEO Patrick Byrne told me in an interview last year the integration was to happen in the second half of 2014). It wasn't long after that we followed up with a report indicating a whopping $10,000 in merchandise had been sold in bitcoin in the matter of about two hours. It has since been nearly 24 hours. So where are we now in terms of sales? An Overstock.com spokesperson told newsBTC this morning the company has raked in a massive $124,000 USD worth of....
Overstock CEO Patrick Byrne has bought the company's first cryptobond for $500,000. I intend to demonstrate my belief not just in Overstock, but in the TØ.com platform that we built and, indeed, in the cryptorevolution itself, he said in a statement. E-retail giant Overstock has announced it will utilize colored coins to issue what it calls a digital corporate bond, or a cryptocurrency-based security, based on the bitcoin blockchain. The company said in a 5th June press release the issuance forms part of its development of cryptographic security technology aimed at reducing trade....
Overstock.com is proving to the world of retail that accepting bitcoin can be a lucrative decision. On January 9th, the company rolled out its bitcoin integration (in partnership with Coinbase) some six months ahead of plan. It wasn't long before the world receive the first sales figures. In a matter of hours, over $10,000-worth of merchandise was sold in exchange for the digital currency. A day later, it was reported that about $130,000 in bitcoin sales had been made. Here we are, closing in on the end of January, and we haven't heard much. Until now. Forbes' Erika Morphy provides some....