Overstock.com has announced they have sold over USD1m in product to Bitcoin users since the online shopping site started accepting the cryptocurrency in January 2014. Of the over 4,300 Bitcoin customers that made purchases since then, Overstock.com estimates almost 60 percent to be new customers.
Overstock.com was one of the first online shopping website to accept Bitcoin. To accept Bitcoin, Overstock.com partnered with San Francisco-based Coinbase.com to process the payments and handle the conversion of Bitcoin into US dollars.
“We did not expect to hit this milestone so quickly,” states Overstock.com Chairman and CEO Patrick M. Byrne. “Bitcoin customers are good customers, and we’re pleased to provide them this service.”
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