Thursday, March 28, 2024
Hawai'i Free Press

Current Articles | Archives

Sunday, November 19, 2017
Overstock.com: Hawaii Among Top Bitcoin Spending States
By Selected News Articles @ 3:34 PM :: 3411 Views :: Hawaii Statistics

Overstock Announces Alaska as State Conducting Most Cryptocurrency Purchases

From BitCoin.com, November 18, 2017

Overstock board member, Jonathan Johnson, has revealed the top five U.S. states that most frequently conduct purchases using cryptocurrency. Overstock became the first major retailer to accept bitcoin back in 2014, and now accepts roughly 50 different cryptocurrencies.

Overstock has revealed the five states that conduct the most purchases using cryptocurrencies. The states are Alaska, Delaware, Oregon, Wyoming, and Hawaii – which many have found surprising, considering that said states are not seen as fintech hubs. The retailer made this determination by assessing the percentage of overall revenue in each state that was generated through cryptocurrency purchases.

In terms of absolute cryptocurrency revenues, the most populated states rank the highest, such as California, New York, Texas, and Florida. The company approximates that it processes $300,000 USD worth of cryptocurrency-based sales each month in total.

Overstock Began Accepting Bitcoin in January 2014

Overstock board member, Jonathan Johnson, described the motivations underscoring the company’s choice to become a leading commercial entity active within the cryptocurrency space. “We saw from the 2013 banking crisis in Cyprus that bitcoin was a good store of value and could act as a currency. We like the pro-freedom aspect of Bitcoin.”

Johnson described the cryptocurrency-purchasing demographic, stating that they “tend to be male and buy twice as much as those paying with regular currency.“ Johnson added that “people paying with cryptocurrency don’t buy anything drastically different from other customers.”

Overstock Has Been Very Active in the Cryptocurrency Space During 2017

In September, it was announced that Tzero, a majority-owned subsidiary of Overstock, will launch a trading platform for Initial Coin Offerings that is compliant with U.S. Securities and Exchange Commission (SEC) legislation. The platform was able to achieve regulatory compliance by registering as an “Alternative Trading System’.

In August, Overstock became the first major U.S. retailer to accept bitcoin cash and several prominent altcoins via point-of-sale payment. The company revealed that it would be doing so in partnership with Shapeshift.io.

---30---

Related:

DCCA Chases Bitcoin Provider out of Hawaii

Hawaii misses the bitcoin boom

Links

TEXT "follow HawaiiFreePress" to 40404

Register to Vote

2aHawaii

808 Silent Majority

Aloha Pregnancy Care Center

AntiPlanner

Antonio Gramsci Reading List

A Place for Women in Waipio

Ballotpedia Hawaii

Broken Trust

Build More Hawaiian Homes Working Group

Christian Homeschoolers of Hawaii

Cliff Slater's Second Opinion

DVids Hawaii

FIRE

Fix Oahu!

Frontline: The Fixers

Genetic Literacy Project

Grassroot Institute

Habele.org

Hawaii Aquarium Fish Report

Hawaii Aviation Preservation Society

Hawaii Catholic TV

Hawaii Christian Coalition

Hawaii Cigar Association

Hawaii ConCon Info

Hawaii Debt Clock

Hawaii Defense Foundation

Hawaii Family Forum

Hawaii Farmers and Ranchers United

Hawaii Farmer's Daughter

Hawaii Federalist Society

Hawaii Federation of Republican Women

Hawaii History Blog

Hawaii Homeschool Association

Hawaii Jihadi Trial

Hawaii Legal News

Hawaii Legal Short-Term Rental Alliance

Hawaii Matters

Hawaii's Partnership for Appropriate & Compassionate Care

Hawaii Public Charter School Network

Hawaii Rifle Association

Hawaii Shippers Council

Hawaii Smokers Alliance

Hawaii State Data Lab

Hawaii Together

HIEC.Coop

HiFiCo

Hiram Fong Papers

Homeschool Legal Defense Hawaii

Honolulu Moms for Liberty

Honolulu Navy League

Honolulu Traffic

House Minority Blog

Imua TMT

Inouye-Kwock, NYT 1992

Inside the Nature Conservancy

Inverse Condemnation

Investigative Project on Terrorism

July 4 in Hawaii

Kakaako Cares

Keep Hawaii's Heroes

Land and Power in Hawaii

Legislative Committee Analysis Tool

Lessons in Firearm Education

Lingle Years

Managed Care Matters -- Hawaii

Malama Pregnancy Center of Maui

MentalIllnessPolicy.org

Military Home Educators' Network Oahu

Missile Defense Advocacy

MIS Veterans Hawaii

NAMI Hawaii

Natatorium.org

National Christian Foundation Hawaii

National Parents Org Hawaii

NFIB Hawaii News

No GMO Means No Aloha

Not Dead Yet, Hawaii

NRA-ILA Hawaii

Oahu Alternative Transport

Obookiah

OHA Lies

Opt Out Today

OurFutureHawaii.com

Patients Rights Council Hawaii

PEACE Hawaii

People vs Machine

Practical Policy Institute of Hawaii

Pritchett Cartoons

Pro-GMO Hawaii

P.U.E.O.

RailRipoff.com

Rental by Owner Awareness Assn

ReRoute the Rail

Research Institute for Hawaii USA

Rick Hamada Show

RJ Rummel

Robotics Organizing Committee

School Choice in Hawaii

SenatorFong.com

Sink the Jones Act

Statehood for Guam

Talking Tax

Tax Foundation of Hawaii

The Real Hanabusa

Time Out Honolulu

Trustee Akina KWO Columns

UCC Truths

US Tax Foundation Hawaii Info

VAREP Honolulu

Waagey.org

West Maui Taxpayers Association

What Natalie Thinks

Whole Life Hawaii

Yes2TMT