Overstock, one of the leading companies using bitcoin, declared $340,000 in cryptocurrency-denominated assets on December 31st, 2014. In 2014, the company lost $8000 due to bitcoin price volatility.

The company declared its bitcoin losses in a regulatory filing published in March.

“Cryptocurrency-denominated assets were $340,000 and zero at December 31, 2014 and 2013, respectively, and are recorded at the lower of cost or market based on an average unit cost. Losses on cryptocurrency holdings were $8,000 during the year ended December 31, 2014”

Earlier, in May 2014, Patrick Byrne said that the company keeps 10% of its bitcoin income in digital currency. If the proportion has not changed since then, it would mean that Overstock’s bitcoin income is close to $3.5 million.The company also provided an analysis of bitcoin-associated risks in the relevant section of the regulatory filing:

“Consequently, we have exchange rate risk on the amounts we hold as well as the risks that regulatory or other developments may adversely affect the value of the cryptocurrency we hold. There is also uncertainty regarding the future legal and regulatory requirements relating to cryptocurrency or transactions utilizing cryptocurrency. These uncertainties, as well as future accounting and tax developments, or other requirements relating to cryptocurrency, may adversely affect us”

The Overstock report does not mention any positive trends in the adoption of bitcoin. Meanwhile, the Utah State Legislature began work on a bitcoin bill.  State representative Marc Roberts suggests creating a consultative body to discuss the possibility of making bitcoin legal in Utah.

In the text of the law, Roberts noted that some companies in the state have started to use digital currency and explicitly mentioned Overstock. According to the regulatory filing, Overstock is building new a headquarters in Utah.

Meanwhile, Overstock remains one of the leading bitcoin-accepting stores in the world. According to CoinDesk, the top 10 items bought for bitcoins are pillows, area rugs, charity donations, and headphones.