Overstock.com (OSTK) Looking to Accept Bitcoin in Second-Half of 2014

December 19, 2013 10:07 AM EST
Overstock.com (Nasdaq: OSTK) might lead the e-commerce revolution into Bitcoin.

Initially reported by the New York Times in October, NewsBTC quotes Overstock.com CEO Patrick Byrne in saying the e-commerce giant will begin accepting Bitcoin in the second-half of 2014. The company will be working independently to implement a proprietary system for accepting Bitcoin payments, he noted.

While many move to convert Bitcoin immediately upon receipt, Byrne noted that the company would need to find a way to hedge its risk if Overstock.com were to do something like that.

Byrne wasn't put-off by recent fluctuations in Bitcoin, particularly as the People's Bank of China took a stronger stance on transactions in the virtual money.

Shares of Overstock.com are down 0.7 percent.

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