This past week, online retailer Overstock.com became the most mainstream retailer to start accepting Bitcoin. On Twitter, the company's CEO Patrick Byrne said the retailer saw $130K worth of Bitcoin orders on the first day.
He also said he believes Amazon will be forced to accept Bitcoin at some point, as he claims the market is growing at 30% per month and that the company would be foolish to cede that market to others.
Byrne went on CNN International to talk about his company's Bitcoin acceptance and made a couple points that are worth noting.
One is that the company immediately swaps out its Bitcoins back to US Dollars once the transaction is complete. Byrne says he's a Bitcoin believer, but until he has suppliers that accept Bitcoin, there's no reason to hold onto them. He'd also be interested in participating in a Bitcoin derivatives market at some point in the future to hedge against volatility.
Coinbase Adds First Ethereum Token to Professional Trading Platform
Crypto exchange startup Coinbase is adding the 0x protocol token to its professional trading platform, Coinbase Pro.
Announced Thursday, the exchange said in a blog post that it had begun accepting
SpankChain Says Hacker Returned Stolen Crypto Funds
A hacker who stole 165.38 ETH from the SpankChain platform has returned the funds.
The payment platform focused on the adult industry announced Thursday that the hacker, who stole the funds from th
Korea's Largest Bitcoin Exchange Sells Stake in $350 Million Deal
Bithumb, currently the largest cryptocurrency exchange in South Korea by trading volume, just confirmed it has sold more than 38 percent of its total ownership to a blockchain consortium based in Sing
Nevada's Utilities Agency Eyes Blockchain for Energy Credit System
The Public Utilities Commission of Nevada, a government agency charged with supervising and regulating power utility services in the state, is looking to implement blockchain for its energy credit tra
Fake News Site Used New Zealand Prime Minister to Pump Bitcoin Startup
A fake news site has used the likeness of New Zealand Prime Minister Jacinda Ardern to promote articles on Facebook aimed to pump a crypto startup.
Local media source Stuff reported Friday that sev
FinCEN Blasts Iran's 'Malign' Use of Crypto to Bypass Economic Sanctions
A U.S. regulator is urging domestic exchanges to help prevent the Iranian regime from using cryptocurrency to bypass economic sanctions.
The Financial Crimes Enforcement Network (FinCEN) published
3 Bitcoin Price Factors That Suggest Bears Are in Charge
The prospect of a deeper drop in bitcoin prices has increased, price-volume analysis indicates.
The world's most valuable cryptocurrency, which had been trading sideways since September 22, fell sh
Leading Auction House Christie's to Record Art Sales on a Blockchain
London-based Christie's, one of the oldest and most noted art auction houses in the world, is turning to blockchain tech to securely store sales and provenance data.
The firm, which has a history g