Overstock.Com to Start Accepting Bitcoin

Saturday, Dec 21, 2013  |  Updated 7:27 PM PDT
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Palo Alto Cafe Now Accepts Bitcoins

Stephanie Chuang

Some in Silicon Valley are touting the digital currency, Bitcoin, as the future of how people will use and move money.

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Some in Silicon Valley are touting the digital currency as the future of how people will use and move money: inflation-proof, non-regulated and high-speed transactions at low costs. Stephanie Chuang reports.

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Overstock.com said it will start accepting Bitcoin, becoming the first major U.S. retailer to accept the electronic currency.

Overstock.com sells everything from digital cameras and bed sheets to patio furniture and even cars.

Overstock plans to begin accepting Bitcoin near the end of the second quarter of 2014.

Earlier this week, Bitcoin saw its value drop after China's central bank issued a warning and announced new rules fordealing in Bitcoin.

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