Overstock makes nearly $1 million in sales in bitcoin the first month!

Overstock CEO Patrick Byrne is no stranger to being an early adopter of technology. that he was among the first to buy to one of Tesla’s Model S electric cards five years back and apparently, some things never change. As you may recall, Byrne’s company recently became the first major on the web retailer to accept Bitcoins.

So, how’s that working out for them thus far? Pretty good, actually.

According to Byrne, their website processed $870, 000 in sales from almost 4, 000 orders paid with Bitcoin. Strangely enough, the most popular item among virtual currency aficionados is bed sheets followed closely by computer hardware and cell phone accessories.

Of course, becoming the first major retailer to accept Bitcoin was no easy task. Payment processor Coinbase flew an employee out to Salt Lake City to help assist Overstock to make it a reality. They ostensibly locked 40 people in a room for a week to work out the kinks as becoming the first was bound to deliver a ton of positive press and business.

But Byrne’s curiosity about Bitcoin extends well past an extra payment method for Overstock. The CEO liquidated a few million dollars worth of his holdings in gold and converted it to Bitcoin. That he said he fundamentally desires to be able to pay vendors and employees in Bitcoin too when they choose. But exactly why is he doing this?

Because he desires to further the cause of Bitcoin, plain and simple.