Overstock CEO Says Bitcoin Sales to Add 4 Cents to 2014 Earnings Per Share

Bitcoin sales at Overstock , which started accepting this type of currency as payment for items on its website in January this year, have exceeded $2 million so far, or about one-quarter of 1 percent of total sales.

“I think the world expects us to make 75-80 cents per share this year. And 4 cents of that would be attributable to bitcoin,” CEO Patrick Byrne said to Reuters last Friday.

So far, total bitcoin sales have totaled $15,000 per day, or $300,0000 per month. By the end of the year, Byrne  expects Overstock to do $1 million in bitcoin sales per month.

Byrne expects bitcoin sales of $6 million to $8 million in 2014, most of it from new customers.

Read more: Chicago Tribune


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