Overstock Extends Bitcoin Payment Services for International Customers

By August 20, 2014Bitcoin Business
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ForexMinute.com – Bitcoin adaption although have started to surface within just a year of its launch, but the coin rose to fame only when major companies started to integrate it as well. As per this hour, the world’s leading companies like Dell, Expedia, Dish Networks and Overstock have adapted Bitcoin as one of its payment methods.

However, the aforementioned companies introduced Bitcoin payment options within limited territories – mostly inside the United States. Before adapting a new payment technology, they sure wanted to try-and-test the digital currency in a real world scenario. But it is Overstock eventually, which took a leap of faith in Bitcoin and made an altogether unique announcement on August 19th.

Reportedly, the renowned American online retailing company decided to expand its Bitcoin payment services for international customers as well, along with the US customers it was already serving. Following this announcement, Overstock has become the first major retailer to actually distribute its Bitcoin operations on a global scale.

Speaking of numbers, it is revealed that Overstock still receive only 1% of purchasing orders whose transactions are made in Bitcoin. This means, the company conducts only $12,000 to $16,000 worth of transactions in Bitcoin per day. But if one is to believe the Overstock CEO Patrick Byrne, these numbers are likely to be increased by the end of this year.

The man had earlier predicted that the Bitcoin sales will add at least a 4% per share benefit to the store’s current stock rate. Following the prediction, he has also showed his optimism towards Bitcoin sales crossing the minimum of $6 million by 2014. “Bitcoin saves us so much money that we want to help the community,” he further said while promising to fund Bitcoin foundations with 4% of Bitcoin sales.

But now with Overstock opening its door to international customers, Patrick’s prediction might actually come close to being true, or might even surpass it. To conclude in the end, we can just say that this one retailer seems to be having a great time with Satoshi Nakamoto’s jinn.

To contact the reporter of the story: Yashu Gola at yashu@forexminute.com

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