MtGox finds 200,000 bitcoins it claims to have forgotten about

MtGox really is a gift that keeps on giving: now in the throes of bankruptcy, the audit-averse Bitcoin exchange said late Thursday that it has found 200,000 bitcoins in an “old-format” wallet it previously thought was empty. That means it has only lost 650,000 bitcoins – 550,000 of which belong to its customers — rather than the 850,000 it previously thought had been pilfered by thieves (“evidence” that MtGox still has almost a million bitcoins is deeply suspect, accompanied as it was by fraudulent malware). The re-found bitcoins are worth around $116 million, which will interest the courts handling MtGox’s bankruptcy in Japan and the U.S., and customers clamoring for their money back.

Bitcoin support works out well for Overstock, as retailer boosts sales estimates

In the two months since Overstock started accepting Bitcoin payment, the e-commerce giant has accepted $1 million worth of sales in the cryptocurrency. What’s more, the firm, which partnered with Coinbase to handle the payments, said late Tuesday it now expects Bitcoin-based sales of between $10 to $15 million this year, which is twice or three times what it originally estimated. It’s still a small proportion of Overstock’s revenue, but it comes as validation for Bitcoin during troubled times, particularly as Overstock and Coinbase noted how low Bitcoin transaction fees improve net profitability for the retailer.