36,000 Brick and Mortar Locations to “Walk in and Buy Bitcoin” With the recent problems at the major Bitcoin exchanges, buying Bitcoin has become a bit of a problem. That will soon change if the U.S. Postal Service has its way. Bloomberg Television has reported that the USPS is planning to become a brick-and-mortar business where people can walk in off the street and buy Bitcoin. This move, when it comes to pass, will provide a huge boost to the demand and ultimately the value of Bitcoin, as literally hundreds of millions of people will not only be exposed to …continue reading

Largest U.S. Bank by Market Value Takes Steps Into the New Bitcoin Economy In what appears to be a case of “if you can’t beat ‘em, join ‘em,” giant U.S. mega-bank, Wells Fargo, has assembled a team “to examine how it might safely offer Bitcoin-related services or banking arrangements to virtual currency entrepreneurs.” Wells chief executive John Stumpf said that the bank wants to be certain of what Bitcoin is, as well as what it can and cannot do. He fully admitted that his bank wants to remain up to speed with the Bitcoin economy. The Financial Times reports: “Wells …continue reading

CEO Is “Stunned” It was barely 3 weeks ago that we reported the first major online retailer, Overstock.com, had made the decision to begin accepting Bitcoin as a form of payment. Initial plans called for accepting the virtual currency by the end of the second quarter of 2014. However, those plans were apparently put on the fast track, as yesterday afternoon the CEO of Overstock, Patrick Byrne, tweeted that he was “stunned” by the amount of sales that were made with Bitcoin as the payment on its first full day of implementation. He was ecstatic with the results and proclaimed that …continue reading

The First Major Retailer To Do So It was just about one month ago that we ran the story “More Evidence Bitcoin is Going Mainstream.” And indeed, the evidence continues to mount daily. Today we are encouraged to report that the first major U.S. retailer to accept Bitcoin as a form of payment will be Overstock.com. The online retailer is anticipated to have total sales of $1.3 billion in 2013. The CEO, Patrick Bryne, sounded very much like a true Bitcoin enthusiast when he told the Financial Times, “We’re the guys who like gold. We think the monetary base should …continue reading