Description: Right now, merchants seem to accept Bitcoin for three main reasons: They want press coverage, they’re libertarian fellow travelers, or they’re selling drugs. Assuming that last one doesn’t apply to Overstock.com (OSTK), its announcement that it will begin accepting Bitcoin by mid-2014 seems to be some mix of the first two reasons. The online retailer, whose 2012 revenue totaled $1.1 billion, is the largest yet to jump on the Bitcoin bandwagon.
Date: Dec 27, 2013
Questions for Discussions:
- How would acceptance of alternative currencies change record keeping and reporting of financial information?
- Is this a real risk for companies or an opportunity for growth?