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Overstock's Top 10 US States for Bitcoin Spenders
New Hampshire residents are the most likely to pay for Overstock items in bitcoin, according to new data released by the e-commerce giant.
By Pete Rizzo
Updated Sep 11, 2021, 11:31 a.m. Published Feb 12, 2015, 10:55 p.m.
New Hampshire residents are the most likely to pay for Overstock items in bitcoin, according to new data released by the e-commerce giant.
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indicates that the company has seen 131 bitcoin orders per million residents in the Northeastern US state. Utah and Washington, DC, placed second and third in the rankings, with 89 and 85 orders when adjusted for population, respectively.
Rounding out the top five states were Washington (77 orders per million residents) and Vermont (72 orders per million residents). Data represents all purchases since the company began accepting bitcoin in January 2014.
Judd Bagley, general manager of Overstock's Cryptocurrencies Group, indicated that the research is part of the company’s regular analysis of the habits of its shoppers, a process that includes tracking orders and purchases.
Bagley told CoinDesk his company was particularly pleased with the results, stating:
“We're quite proud to see that Utah, where we're headquartered, ranks second in the nation.”
One of the first and still most prominent companies to accept bitcoin, Overstock recently established an cryptocurrencies division to oversee the development of its decentralised exchange project, Medici.
The company also recently installed a bitcoin ATM at its Utah headquarters.
North-South divide
A look at the data reveals that bitcoin purchases appear more common by this metric in northeastern states, with Vermont and New Hampshire comprising two of the top five slots.
Further, Connecticut, Maine, Massachusetts and New York all ranked within the top 20 US states by this metric.
By contrast, Georgia, the highest ranking southern state, place 23rd on the list. No state from the South Atlantic, East South Central or West South Central region placed within the top 20.
Of states in the Midwest, Nebraska placed the highest at number 19, with 39 orders per million residents. Utah was the highest-ranking Western state.
Mississippi was the lowest ranking state at just eight orders per million residents. South Dakota, Wyoming, Hawaii and West Virginia rounded out the bottom five.
Notably, the data didn’t suggest any correlation with the average income of the state. While some like Washington DC, rank toward the top of such lists, others like Nevada rank 26th in income in the US.
US map image via Shutterstock
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