Overstock confirms Sept. 1 launch of international bitcoin buying option

Home » Overstock confirms Sept. 1 launch of international bitcoin buying option
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After months of speculation, Overstock.com CEO Patrick Byrne confirmed yesterday that his company will be enabling buy-with-bitcoin options on their international site, O.co, starting Sept. 1. Although the move was known to be the works since July, the date of the bitcoin-buying service expansion wasn’t known beyond a general “within a few months” estimate. The new option appears to be available for all of Overstock’s international orders, meaning customers from Finland to South Africa will be able to pay for their orders with bitcoin.

“I know that’s it’s become part of the Bitcoin lore in the United States to shop on Overstock,” Byrne told the New York Times‘ Dealbook blog. “My hope is that would happen at a global level.”

With the holiday season rapidly approaching, and cost-conscious shoppers watching every penny, the timing of the move seems ideal for Overstock. The company hasn’t yet announced any bitcoin-specific holiday deals for domestic or international shoppers, although these are very likely in the works. With bitcoin itself spreading into international markets at an impressive clip, Overstock may be in an ideal position to break bitcoin sales records.

Overstock has brought in more than $2 million in BTC orders in the U.S. since launching the option at the start of the year. Byrne said earlier this month that his company sees around $15,000 in bitcoin-backed sales every day, and claimed that around $0.04 percent of the company’s per-share stock price is attributable to bitcoin.

The company has make several highly visible moves in the bitcoin space in recent months, announcing plans to allow employees to receive year-end bonuses in BTC and actively investigating the possibility of offering a digital stock offering.

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