Bitcoin got a huge boost this week when online electronics retailer Overstock.com began accepting payments via the cryptocurrency, hot on the heels of Zygna starting a Bitcoin pilot. Those two significant brands could be joined by an even bigger name in the US consumer space, Newegg.
The company tweeted a teaser which suggests it may embrace the virtual currency soon:
— Newegg (Official) (@Newegg) January 9, 2014
So. Much. Tech.
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Overstock.com makes more than $1.3 billion per year from sales, making it easily the largest company to accept Bitcoin to date — but Newegg is bigger still. The company is estimated to be worth $3 billion, with Forbes reporting that it turned over $2.8 billion in sales back in 2012.
With little support from governments worldwide — bar Singapore — retail acceptance is a big deal for Bitcoin. Zynga’s announcement helped push its valuation over the $1,000 earlier this week, and it could surge higher with further backing. (The valuation is $830 at the time of writing.)
Image via DevinCP / Flickr