Overstock.com to Accept Bitcoins Next Year

Chalk up another win for advocates of bitcoin. Online retailer Overstock.com says the company will accept bitcoins for payment in the second half of 2014.

The Verge reports that Overstock CEO Patrick Byrne hopes the move will help the company take the lead in a growing marketplace.

Byrne explained the decision to The Los Angeles Times, saying “I think we’ll pick up … the market share of people who’d prefer to pay in Bitcoin, with an honest currency.” However, he added that the decision is “also philosophical, part and parcel with my belief in a limited government — that if you want limited government you can’t give it power to expand the monetary base.” Byrne is a self-identified libertarian, and he believes in the benefits of a cryptocurrency like Bitcoin, which isn’t attached to any government and has a limited supply.