Overstock to Donate 4% of Their Bitcoin Revenue to Organizations Promoting Bitcoin Adoption

0
98

Overstock to Donate 4% of Their Bitcoin Revenue to Organizations Promoting Bitcoin Adoption

Overstock CEO Patrick Byrne has been working overtime to make Bitcoin a popular digital currency accepted by a large number of companies and in one of his moves, he has announced that his company will donate 4% of their Bitcoin revenue to organizations promoting Bitcoin adoption. The announcement came in the form of a press release to the media.

Not just the announcement to donate the amount to the companies, but Overstock has already selected the Chamber of Digital Commerce as the first organization that is going to accept the amount in donation from the company. The company says that the cryptocurrency movement is at a critical stage in its evolution and needs support from everyone.

The press release says that adoption among the technorati is fairly pervasive. However, according to the company it needs to make its way into the lives of the masses in the developed and developing world, while avoiding the obstacles that uninformed intervention by lawmakers could impose.

Overstock believes that the Chamber of Digital Commerce will help make this possible and it is excited about supporting it. A couple of days ago ForexMinute reported that Overstock had started accepting Bitcoin internationally through their international site. They also allowed them to reach a larger market within the Bitcoin community.

The latest decision to donate 4% of earnings from the Bitcoin transactions to those who promote the digital currency is being appreciated a lot by fellow Bitcoiners. With the decision that Overstock will continue looking for Bitcoin advocacy organizations throughout the world and help them opt for the digital currency.

The Chamber of Digital Commerce is Aiming Big Next Year

The company that is going to receive the first donation from Overstock, the Chamber of Digital Commerce itself is preparing for big action in 2015. The official website of the company says that it is set to launch a full-service public policy campaign in January 2015, at the start of the 114th Congress.

The website of the company further claims that the company is currently maintaining and building relationships on both sides of the aisle with key House and Senate Committees that have jurisdiction over digital assets.

The parties include Senate Agriculture, Senate Banking, Senate Commerce, Senate Homeland Security, Senate Finance, House Financial Services, House Agriculture, House Ways and Means, House Energy and Commerce, House Homeland Security, etc.

To contact the reporter of this story: Deepak Tiwari at deepak@forexminute.com