Overstock.com Accepting Crypto Currencies
In the current scenario where every market is facing stiff competition and companies are trying to guage new ways of exploring the market. The e-commerce giant Overstock.com has experienced stock shares soar as company encouraged acceptance of bitcoin and blockchain. Record hit four-year highs on mounting excitement around the company’s innovative venture into blockchain the technology behind bitcoin & Crypto Currencies. They recently company management has shown interest in building blockchain payment networks & accepting bitcoin.According to the company’s CEO, Patrick Byrne initiated a whole new unit for utilization of blockchain within Overstock. In the last three years company has developed this new division which is called Medici Ventures. At this point company has emerged as a front-runner in applying blockchain technology to trading stocks and digital tokens.
More Options of Crypto Currencies
Now company is expanding its horizons. Overstock announced a partnership with Shapeshift to streamline the process. With this strategic tieup Now Overstock customers will be able to do transaction via Shapeshift’s native API using Bitcoin Cash, Monero, Litecoin, Ethereum, and more. Now company became the first major retailer to accept bitcoin cash and altcoins at the point of sale for payment.This year bitcoin has “shot up six times in value. Interestingly monitoring overstock’s share price has mimicked the short term volatility of bitcoin. The Same manner as a crypto market is volatile Overstock’s shares swing with a volatility resembling the speculation often seen in digital currencies like bitcoin. A high 14 percent of shares available for trading.
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