Overstock sees Bitcoin having a postitive effect on earnings for 2014. The company told Reuters they expect Bitcoin to add 4 cents per share, they are expecting $1.5 billion in sales for the year.
From the article:
Overstock.com Inc’s sales through bitcoin are expected to add 4 cents per share to its earnings this year, the online retailer’s chief executive, Patrick Byrne, told Reuters.
Bitcoin sales at Overstock (OSTK.O), which started accepting this type of currency as payment for items on its website in January this year, have exceeded $2 million so far, or about one-quarter of 1 percent of total sales.
Byrne expects bitcoin sales of $6 million to $8 million in 2014, most of it from new customers.
“I think the world expects us to make 75-80 cents per share this year. And 4 cents of that would be attributable to bitcoin,” Byrne said to Reuters last Friday.
So far, total bitcoin sales have totaled $15,000 per day, or $300,0000 per month. By the end of the year, Byrne expects Overstock to do $1 million in bitcoin sales per month.
Overstock, which uses Coinbase as a payment processor, has been at the forefront of the bitcoin revolution. It was the first company with at least $1 billion in sales to accept bitcoin payments. The company expects $1.5 billion in sales this year.
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