Overstock.com Plans To Sell Bitcoin Directly In The Next Year By Bitsy
Bitsy, the portfolio company Medici Ventures, which is a subsidiary of Overstock.com, announced last week the launch of a limited beta version of its digital wallet, which offers an easy way to purchase cryptocurrency directly with fiat.
According to the announcement, the initial beta version will support only bitcoin purchases, but the company plans to add additional digital currencies in the near future. Each purchase provides users with real bitcoin, which means that users have full control over their funds and can send them to any external wallet.
Perhaps the most noticeable component of the Bitsy wallet is the company’s key recovery system, which allows users to easily recover their funds if their wallets are lost or destroyed.
Patrick Byrne, CEO and founder of Overstock (OSTK), said in an announcement that he plans to bring the functionality of the Bitsy wallet to the main retail site of Overstock, allowing visitors to directly buy bitcoin.
The integration of the Bitsy purse into Overstock is likely to further accelerate the adoption of digital currencies, while the company’s revenue associated with bitcoins, which currently amounts to about $ 120,000 per week, is growing at the same time.