Overstock.com Considered Accepting Bitcoin But Decided Not to

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Surely you’ve heard of Overstock.com. If not, they’re the huge online retailer (sort of like Amazon), and they’re immensely popular. As it were, the Utah-based company has apparently considered accepting Bitcoin payments at some time, but decided now wasn’t quite the right time.

The news comes from a New York Times story published Wednesday (the story is about Bitcoin in the mainstream — a highly-suggested read):

Patrick M. Byrne, chief executive of the online retailer Overstock.com, said his company was talking about accepting bitcoin, but it decided to pause its plans until legal matters around the currency were clarified.

With a Senate hearing planned on the cryptocurrency, it’s no surprise. Many retailers are simply hesitant to accept Bitcoin for fear of how their government may react. Hopefully they’ll come back to the though and decide to green light accepting bitcoin.

[via Reddit]