DISH Network to Begin Accepting Bitcoin

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/ Source: Associated Press

DISH Network Corp. will become the largest company yet to accept payment in bitcoin.

The satellite TV company said Thursday it will begin accepting the digital coins through payment processor Coinbase by September. Coinbase will instantly convert the bitcoins into cash, eliminating the risk of price fluctuations to DISH.

DISH's chief operating officer, Bernie Han, said idea came from company employees who had become avid bitcoin users.

While Han said demand for the payment system is unclear, it aligns the Englewood, Colorado, company's high-tech offerings — such as the ability to watch live TV on mobile devices — with the tech-savvy customers it is trying to reach.

He also said Coinbase's payment processing fee is attractive compared to the average of what it pays to other processors.

-- The Associated Press