Overstock has always been a firm proponent of Bitcoin and cryptocurrency. The company has accepted BTC payments for several years now. Surprisingly, Alaska is the biggest state when it comes to cryptocurrency purchases. It is a rather interesting development, as no one expected this state at the top of the list. These rankings firmly indicate Overstock is still pretty popular among cryptocurrency enthusiasts.
Most Bitcoin users aware of what Overstock is and does. The company specializes in selling all kinds of goods over the internet. They were also one of the first major companies to take a gamble on Bitcoin. So far, this effort has worked out quite well. It is evident people can’t buy something with BTC on the website every single week, though. However, there are certain US states where this service is a lot more popular compared to the rest of the country. The current top five is pretty shocking, though, as no one expected any of these regions in the top five.
Overstock Benefits From Bitcoin Price Surge
With Alaska leading the charge, a very interesting precedent is created. Up until now, there has been little indication of BTC support in this state. Then again, residents of this state are more prone to financial disruption, by the look of things. It also confirms online shopping is pretty popular among residents. Delaware, Oregon, Wyoming, and Hawaii are also very popular states related to Overstock purchases. An interesting bunch of US states, to say the very least.
While people in Alaska may place more orders, the revenue isn’t coming from there. More specifically, California, New York, and Texas generate most of the cryptocurrency revenue for Overstock. Again, no real surprises here, as it is only to be expected people living there spend more money. In Alaska, using Overstock is done for different purchases compared to California. According to Overstock, the company processes around $300,000 worth of BTC payments every month. A pretty solid number, although nothing spectacular either.
How all of this will play out in the years to come, remains unknown. This year’s price increase for Bitcoin has made the currency a lot more popular. Services such as Overstock reap the rewards from this success as people are more eager to spend BTC. If this growth keeps up, the company should process close to $500,000 worth of transactions per month. Now is a good time for other major retailers to look into cryptocurrency. There is some good money to be made and enough people willing to spend it.
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