TigerDirect, a major online retailer, has started accepting Bitcoin as a payment option on their webshop with more than 200,000 products. They are the second Billion dollar company to accept digital currency as a payment option after Overstock.com was the first in January this year. TigerDirect processes about 2 Billion Dollars worth of orders each year.
It has since then been 17 hours. So where are we now in terms of sales? An TigerDirect spokesperson told BitcoinBoard this morning the company has raked in a massive $250,000 USD worth of items in bitcoin payments since it started accepting the payment method 17 hours ago. The amount was spend in more then 1000 orders, and these are great numbers for the webstore.
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When Overstock.com started accepting Bitcoin, they reported that they got more then $124,000 in BTC payments in the first 24 hours of accepting it. Because TigerDirect is almost twice as big, the numbers are a bit higher, but it surely shows that there is a huge market out there for online retailers to accept the digital currency as a payment method. We expect that NewEgg will be the next in line to accept it, as they are the direct competition of TigerDirect.
With the current chip shortage, and big demand for them, we estimate that TigerDirect is doing great business. The chip shortage may even continue far into 2022, analysts expect.