Overstock.com Surpasses $1 Million in Bitcoin Transactions

| MCM Staff

Overstock.com announced that it has sold over $1 million in product to Bitcoin users since the online shopping site started accepting the cryptocurrency on Jan 9. According to Overstock.com, of the over 4,300 Bitcoin customers that made purchases with the site since January, almost 60% are new customers.

Most Consumers Would Never Consider Using Bitcoin

| Tim Parry

As buzz about Bitcoin continues to build, the question is often asked – will consumers embrace this alternative currency? A new nationwide survey conducted for TheStreet by GfK1 shows that consumers do not understand Bitcoin and have little interest in owning it.

Alibaba Bans Bitcoin on all Marketplace Sites

| Erin Lynch

While Overstock.com announced last week that it has begun accepting Bitcoins as an online payment option, not all merchants are embracing the crypto-currency. The Chinese ecommerce platform Alibaba Group said in a statement that it has banned the controversial payment option from all its Taobao marketplaces.