Today's Hard|Forum Post
Today's Hard|Forum Post

Sunday December 22, 2013

Overstock.com Accepting Bitcoin....Sorta

Overstock.com CEO Patrick Byrne has announced that his company will soon accept bitcoin as payment. The catch? To avoid taking a hit, the company will convert your bitcoin payment into U.S. dollars before applying it to your purchase.

Any retailer holding bitcoins for any length of time, therefore, is asking to be slaughtered. Overstock is no exception. "We'll want to avoid any currency exposure by converting bitcoins to dollars as soon as they come in," Byrne told me, evincing rather more faith in the stability of the USD than the BTC.

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