Overstock was, as most are aware of, one of the first bigger companies to integrate and accept Bitcoin as a payment method and has helped clear the path for the industry to get even more bigger companies such as Dell, Dish and Expedia on board.
But having a site like Overstock accepting Bitcoins has only been good for the Americans, as it was only on national orders that it was possible to pay with Bitcoins. That’s about to change however, as Patrick Byrne, CEO of Overstock, wants to open up for Bitcoin payments for international orders, believing that it can boost the Bitcoin sales a little more.
The change is set to take place on September 1st, as the international Overstock site will be integrating a new payments system that is said to include Bitcoins. Byrne believes that he will be able to sell for around $2 million more a year, making it doable for overstock to reach $10 million in total Bitcoin sales annually.
With the integration of Bitcoin as a payment method, lots of savings are being made for Overstock as it doesn’t cost a lot to accept Bitcoin payments. These savings will go back to the community, either in the form of discounts or by donating amounts to Bitcoin friendly foundations.