Dec 19, 2013

Overstock.com Will Start Taking Bitcoin Next Year

Posted by in categories: bitcoin, business

Online retail outlet Overstock.com will start accepting Bitcoins as early as the end of Q2 2014, according to CEO Patrick Byrne.

They will be the first major online retailer to do so. The news was first reported on newsBTC.

Byrne told us by phone this afternoon that he considers himself a believer in the Austrian economics school, which says fiat currency, like the U.S. dollar, is fundamentally flawed since it is prone to inflation and manipulation. Bitcoin, like gold, is immune to this, since there is a fixed supply.

Philosophically, we support Bitcion,” he said.

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