Jon Russell was Asia Editor for The Next Web from 2011 to 2014. Originally from the UK, he lives in Bangkok, Thailand. You can find him on T Jon Russell was Asia Editor for The Next Web from 2011 to 2014. Originally from the UK, he lives in Bangkok, Thailand. You can find him on Twitter, Angel List, LinkedIn.
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:
Still waiting for an update, but will let you all know as soon as we receive word! RT @TheIanMerrill: @Newegg do you take #bitcoin yet?
— Newegg (Official) (@Newegg) January 9, 2014
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
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