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Saturday, January 11, 2014 Becomes First Major Retailer To Accept Bitcoins

Online retail giant 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:


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