As reported earlier, the first big-name retailers in accepting crypto coin payments in Bitcoin are Overstock.com. The company’s CEO Patrick M. Byrne announced in December 2013 that all of Overstock.com’s offers would soon also be payable using Bitcoin. Sooner than expected, the corporation was reported to have signed a merchant service agreement with San Francisco-based Coinbase for clearing services. Bitcoin payments were then deployed during the first week of 2014.
Customer response seems to have made the company’s move a huge success: within just 21 hours of opening the Bitcoin portion of their business, the company had taken 780 online orders worth $1.24 million from customers paying with Bitcoin. Not at all bad for less than one day — and for some alleged “fringe technology” like Bitcoin either.