Texas-based computer technology company Dell announced on Friday that the firm will start using bitcoin as a payment option.
With about $57 billion revenues in 2013, Dell would become the largest company that integrated bitcoin.
Dish Network, the previous biggest company that added bitcoin, generated profits of $13.9 billion.
Under the contract, Coinbase will provide its payments processing services. The California-based company has previously revealed that online travel booking giant Expedia and gift e-tailer 1-800-Flowers.com would incorporate bitcoin in June and July.
Coinbase includes 35,000 merchants, while the number of merchants using bitcoin is about 65,000. There is also an increase in the number of businesses that incorporated bitcoin through Coinbase. Dell is by far its largest client.
All items that are sold on Dell.com are now available for purchase in bitcoin. Moreover, the company offered a 10% discount on all Alienware products to bitcoin customers. Among other Dell’s products are personal computers, servers, data storage devices, cameras and printers.
Coinbase noted in a blog post that Dell intends to increase payment flexibility for customers. Paul Walsh, Dell Commerce Services CEO, said: “It is always our goal to respond quickly to our customers and ensure their needs are met. Partnering with Coinbase to implement this solution in 14 days is a prime example of the new, more agile Dell.”
Dell founded the company at 19 years old and expanded his business into a Fortune 500 company, thus becoming one of the youngest CEOs at the time. Dell is now the third largest private American firm.
Dell’s CEO and board of directors chairman Michael Dell released the news on Twitter. The company’s representatives also stated that they are not expecting too much from the bitcoin integration as the digital currency is in its early stage yet. The offer will be available for US customers only.
Dell also added a bitcoin page on its website, answering the most common questions about the cryptocurrency. Speaking on the security of bitcoin, the company noted: “There are thousands of computers (‘miners’) constantly running software to ensure the safety of the bitcoin network, which has never once been compromised.”
In addition, the company released Terms and Conditions page that includes policies for bitcoin buyers.
The news was quickly spread throughout the media with publications in Los Angeles Times, The New York Times and PCWorld. Moreover, the announcement was covered in De Telegraaf in Netherlands.
Bitcoin prices escalated to $623.33, while on Friday the prices were valued at $616.48.