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Overstock Plans International Bitcoin Payments on September 1st

Jayanand Sagar | August 19, 2014 | 6:59 pm
Uncategorized

Overstock Plans International Bitcoin Payments on September 1st

Jayanand Sagar | August 19, 2014 | 6:59 pm

True to their word, online mega-retailer Overstock.com is planning to open up bitcoin sales to customers outside of the United States.

The retailer said at the end of July that international bitcoin payments would be made available in six weeks, and now the New York Times is reporting that payments from customers abroad will be accepted come September 1st.

The acceptance will happen on Overstock’s international website, O.co, according to company CEO Patrick Byrne, who told the Times:

[blockquote style=”2″]I know that’s it’s become part of the Bitcoin lore in the United States to shop on Overstock… My hope is that would happen at a global level.[/blockquote]

Overstock first began accepting bitcoin payments in January of this year in partnership with San Francisco-based Coinbase — nearly six months ahead of schedule.

An announcement of the company’s intentions (first reported worldwide by NEWSBTC) in late 2013 gained significant press attention, forcing the company to put their plans into action before another company beat them to it.

Since then, a number of other high-profile retailers and businesses have joined the bitcoin bandwagon. These include Newegg, Expedia, and even DISH Network. More and more businesses continue to adopt the digital currency every day.

As for Overstock, the Utah-based company plans to bring in between $6 and $8 million worth of bitcoin sales this year alone here in the United States — with another $2 million expected from international customers.

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