Though the announcement from Overstock came earlier last month, it has finally come to the news that Overstock.com is accepting Bitcoin worldwide now. The promise that Overstock CEO Patrick Byrne made on 9/5/14 has finally been implemented. He said that as long as users can get on the internet, they can order and pay in Bitcoin.
He further added that users can order in North Korea if they want as long as they are having things delivered to. Incidentally, Overstock.com was the first major online retailer to embrace Bitcoin that announced that it was accepting payments in the digital currency in the US beginning in early January.
However, that was limited to one country. The decision is now implemented internationally, as the users who wish to pay in digital currency can pay in Bitcoin from any corner of the world as long as they have internet connectivity. A lot of Bitcoin users around the world reporting that Bitcoin payments are now accepted everywhere on Overstock.com.
Interestingly enough, unlike other companies that have only extended their Bitcoin acceptance to Canada and the United States, the two countries where most of the Bitcoin transactions take place, this company is now open to anyone with internet access. The sad part is that though it accepts Bitcoin from all corners of the world, it does not have operations in many of these parts.
The decision to implement the announcement by the company came after it realized that there is solid financial infrastructure that can help it offer services to the entire international market. It would have been premature if it was done without complete infrastructure. Nevertheless, Overstock will likely start shipping to countries that previously were fiscally inaccessible.
Effort to Expand Globally With Bitcoin
Thus, Overstock.com is all set to expand its international presence with Bitcoin, particularly among the hip crowd that is pro-technology and wishes to pay in the digital currency for convenience and saving as well. The company says that it has never had a strong international business, and this is a good first step towards building one.
Patrick Byrne, a Ph.D. in Philosophy, has personally helped Bitcoin’s 2014 rise into the mainstream and the latest decision wherein he played major role is going to transform the way Bitcoin transactions have been taking place. In fact, Overstock led the charge and was soon followed by international giants such as Newegg, TigerDirect, Dell, Expedia and DISH.
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