Overstock.com generated $130,000 in Bitcoin revenues on first day
Overstock.com CEO Patrick Byrne wrote a tweet saying that the company added around $130,000 in additional sales on the first full day of accepting Bitcoin. Around 840 orders were placed using Bitcoin with an average of over $150 per order.
Most of the orders were from brand new customers. The states that have the highest number of Bitcoin users include California, Florida, Washington, and Texas. The most common products that were ordered with Bitcoin included tech products like mobile phone cases and flash drives along with home related items like bath towel and bed sheets.
DigitalTrends pointed out that the additional sales in Bitcoins is a small percentage of the company’s overall financial picture. Overstock.com generated around $1.47 billion in sales over the last 12 months — or around $3.4 million per day. Generating around $130,000 in Bitcoin sales is around 4% of their sales for the day.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry