Newegg is accepting Bitcoin

Newegg is an online electronics retailer that is known to sell computer parts, hardware, and many other related items. It has reported roughly $2 billion in sales for 2013 which is almost double that of overstock which is also an online retailer. Newegg is turning to the bitcoin-payment processor Bitpay to handle orders paid with the virtual currency. Claiming that Newegg’s customers were among some of the first bitcoin miners, the company’s chief marketing officer Soren Mills said in a statement that “adopting bitcoin as a payment method is another way we’re responding to our customers’ diverse needs.”

In a statement, the company’s Chief Marketing Officer Soren Mills proclaimed that Newegg and bitcoin are a fit  – primarily because of its customers’ early adopter mentality:

“Newegg’s customers are among some of the earliest bitcoin miners and are enthusiastic proponents of the cryptocurrency. Adopting bitcoin as a payment method is another way we’re responding to our customers’ diverse needs.”

The above is their tweet  has been sent to Newegg’s 44k followers. Newegg has been the most requested retailer from the bitcoin community and the fact that big corporates like Newegg, Overstock, Dish, Expedia, and many more are accepting it just means that Bitcoin is still in the process of adoption and the currency is still in its infancy.

Here is a brief market overview of bitcoin’s current price as of 7/2/14 on BTC-E, the following chart has been taken from bitcoinswidom:

As you can see bitcoin’s price has risen over $100 in the past week, is it the end? If Amazon starts accepting bitcoin there is no doubt we will soar past $1000 again. Keep an eye out for any new huge corporates with a big customer base who might start accepting bitcoins, as we learn from history those kind of news seem to affect bitcoin prices the most.

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