Exclusive: Overstock.com CEO says bitcoin sales to add 4 U.S. cents to 2014 EPS

Reuters News
Posted: Aug 13, 2014 4:56 PM

NEW YORK (Reuters) - Overstock.com's sales through bitcoin are expected to add 4 U.S. cents to its earnings per share this year, the online retailer's Chief Executive Officer Patrick Byrne told Reuters last Friday.

Bitcoin sales at Overstock, which started accepting this type of currency as payment for items on its website since January this year, have exceeded $2 million so far. Byrne expects bitcoin sales of between $6 million to $8 million in 2014.

"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.

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.

(Reporting by Gertrude Chavez-Dreyfuss; Editing by Chris Reese)