Overstock says Bitcoin payments will help the company add $0.04 a year to earnings per share

Absrtact: Overstock CEO Patrick Byrne, the US E-commerce site, said in Friday that accepting Bitcoin payments would help the company add $0.04 trillion in earnings per share this year. Overstock began accepting Bitcoin payments this January, and is now passing this

Patrick Byrne, Overstock CEO of the US E-commerce site, said in Friday that accepting Bitcoin payments could help the company add $0.04 trillion in earnings per share this year.

Overstock, which began accepting Bitcoin payments in January this year, has already received more than $2 million trillion in sales, accounting for about 0.25% of its total sales.

Bourne estimates that Overstock's 2014-year sales through Bitcoin will reach 6 million to $8 million trillion, mostly from new customers. "We are estimated to be 0.75 to 0.80 dollars per share this year, with about 0.04 dollars coming from Bitcoin," he said. "he said.

So far, Overstock's sales in Bitcoin are $15,000 a day, at $300,000 a month. By the end of this year, he estimates that the monthly income will reach 1 million dollars.

Of all the companies that accept Bitcoin payments, Overstock is the first company to have a revenue of more than 1 billion dollars a year. The company expects to achieve 1.5 billion dollars in revenue this year.

After Overstock received Bitcoin payments, several large U.S. companies followed, including Dell, Dish receptacle and new eggs. According to the Bitcoin data provider CoinDesk statistics, the world has more than 60,000 merchants accept bitcoin payment.

Bourne also revealed that the cost of encrypting currency such as Bitcoin is much lower than traditional channels. For example, the bitcoin payment service provider Coinbase only charges less than 1% of the fees to overstock, sometimes even close to zero. The rate of transaction fees for credit card companies is usually 3%.

Overstock also plans to accept payment for international clients ' Bitcoin in mid-September this year. In addition, the company will take out 4% of Bitcoin sales to promote the currency, which will also start in mid-September.