Exclusive to TheDomains.com:
Overstock bought three domain names and three social media handles for 150 bitcoins, in December 2014, which at the time were valued at $50,000 ($380 per BTC) from Anonymous Media LLC.
Overstock bought the domain names O.ly, O.vu and O.cr as well as the social networking handles of twitter.com/O; vimeo.com/O and O.tumblr.com for 150 Bitcoins.
Bitcoin is presently trading down around 40% from where it was in December 2014 at $233 down from $380.
Although the transaction occurred in December, thedomains.com only received a copy of the contract yesterday.
Overstock was one of the first large US online retailers to start accepting Bitcoin earlier in 2014
It’s a very interesting move since Overstock blamed its move from Overstock.com to O.co outside of the United States for a lot of confusion back in 2011 and a decline of profits.
However now it seems Overstock.com has spent more of its shareholders money acquiring three domains names and three social media handles.
I’m sure it will bring no joy its shareholders that we note that none of the three domain names Overstock purchased in December resolve and the Twitter handle they purchased only has one Tweet since the acquisition telling people to go to Overstock.com:
Before you go too crazy blaming Overstock for wasting money, consider that 2 of the 4 .Co domain names Amazon bought in 2011 k.co and z.co are still not resolving.
