Overstock.com begins accepting Bitcoin as payment

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Overstock.com revealed last month that Bitcoin payments would soon be an option for its customers, but the online retailer began accepting the digital currency for purchases sooner than expected.

Despite an earlier announcement that it would accept Bitcoins as soon as June, Bitcoin purchases started flying in from customers as of Thursday.

According to Friday tweet from Overstock.com CEO Patrick Byrne, the bargain website received 780 Bitcoin orders, accounting to $124,000 in sales, in 21 hours.

Although Bitcoin has fluctuated heavily in value, many have taken it up as a viable form of currency, including cyber thieves eyeing ways to empty users' Bitcoin wallets.

Overstock.com, headquartered in Salt Lake City, is the first major online retailer in the US to accept Bitcoin payments.

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