Two Interesting Announcements from Overstock.com

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Online retailer Overstock.com is already well known in the digital currency space as being one of the first major retailers – and the first publicly traded company – to adopt bitcoin as a payment method for its goods. Now, the company has gone a step further in its embracing of digital currency, with two major steps forward revealed today.

First, that overstock will soon offer its staff the option to be paid in bitcoin. The move makes sense, since overstock likely has a large holding after customers have making more than $3 million worth of purchases since January last year.

Chief Executive Patrick Byrne said in the release:

Moving cryptocurrencies out of the realm of geeks and into the realm of the rest of us requires making changes at all levels of the financial ecosystem…An important part of this effort is making digital money ATM accessible.

The second major announcement confirmed that the company had installed a bitcoin ATM at its corporate headquarters in Salt Lake City. The ATM is accessible 24 hours a day and will allow members of the public (not just employees) to move between dollar and bitcoin – and the reverse.

Both these announcements suggest that the recent decline in bitcoin value has not put off large organisations from advancing the space, a good sign as far as we’re concerned.

Anyone used the ATM yet? Let us know!