Overstock’s 2014 Bitcoin Sales Miss Projections at $3 Million

International retail giant Overstock.com is reporting that it expects to complete $3m in total bitcoin sales for 2014.
The figures are notable given that the e-commerce company had issued a wide range of potential estimates for its first-year bitcoin sales over the course of the year. In March, CEO Patrick Byrne suggested Overstock was on pace to achieve $10m – $15m, or even $20m, in bitcoin sales.
Such estimates were also below the $5m Byrne said Overstock originally anticipated, though on par with those suggested by Overstock chairman of the board Jonathan Johnson in interviews.
Judd Bagley, director of communications and general manager of Overstock’s Cryptocurrencies Group, confirmed, however, that the company had expected a higher figure than $3m.
Bagley told CoinDesk:
“While we’re still very happy with sales to customers paying with bitcoin, the numbers didn’t meet our initial expectations.”

This post was published at Coin Desk on December 15, 2014.