Online retail giant Overstock.com has moved forward its plan to take bitcoin payments. The company began taking the digital currency on its site this morning.
About $10,000 worth of bitcoins has reportedly already been spent since Overstock made the announcement just a couple of hours ago. The first item purchased in bitcoin, according to Overstock CEO Patrick Byrne, was a $2,700 patio set. Around 150 bitcoin-based orders were received in the first 90 minutes, he added.
The firm has chosen California-based online wallet and payment processing firm Coinbase to handle its transactions, in what must surely be a major coup for the company, which posted the following on its blog: