Patrick Byrne, CEO of Overstock, is more optimistic about Bitcoin than ever.
He recently stated that Bitcoin sales on his site have exceeded $2 million USD this year so far, with a projected end of year target of at least $6 million.
He also expects Bitcoin sales to boost the value of Overstock shares by around 4 cents by year’s end, a significant fraction of their projected 75 cents per share.
Overstock announced back in April it was averaging between $20-30,000 USD in Bitcoin sales each day, a trend which seems to be continuing for them.
This is due likely in no small part to Byrne’s visibility in the Bitcoin world. He recently announced Overstock would be giving its employees the option to receive performance bonuses in Bitcoin, offering a premium if they did.
Byrne also promised to donate 3% of their Bitcoin revenue to Bitcoin advocacy organizations to help encourage adoption.
Despite the fact that several other online retailers have begun accepting Bitcoin, including companies which offer similar products to Overstock like Newegg and Overclockers, Overstock continues to be at the forefront of the Bitcoin world, due in no small part to Byrne’s enthusiasm.
Overstock Continues To Profit From Bitcoin
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