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Bitcoin Reels in Dish Network, eBay, With More Big Fish to Follow

NEW YORK (TheStreet) -- While the rest of the world may be wary of bitcoin, Dish Network (DISH - Get Report) and eBay (EBAY - Get Report) have already embraced it

A couple of days ago, eBay chief John Donahoe championed bitcoin on CNBC's 'Squawk Box'.  The CEO sees bitcoin playing an integral role in the future of online payments. As you know, eBay owns Paypal.

This is a major coop for the digital currency. One wonders which big Web 2.0 names will be next to embrace the cryptocurrencies. Amazon (AMZN), perhaps?

Who will follow the path of Dish CEO Joseph Clayton, whose flubs have not gone unnoticed. The CEO claims to be a forerunner for innovation, a "disruptor". He has a taste for the experimental, the controversial even, as many of the Dish products launched under him prove. Consider the Hopper, a device that automatically removed commercials from recorded primetime programs, resulting in many lawsuits.

Soon after Dish made the Bitcoin announcement, BitFury, one of the largest Bitcoin mining companies, announced it had secured a $20 million funding, one of the largest in the Bitcoin sector yet.

Even Apple (AAPL - Get Report), a company that had once withdrawn apps allowing Bitcoin transactions, plans to allow "approved digital currencies" and digital wallets back into its app store.

As for Dish, the satellite TV provider will allow its customers to pay for services using bitcoin, by the beginning of fiscal third quarter.

eBay was down almost 1 dollar, at $49.61 midday Friday. Meanwhile, Dish was up 39 cents at $58.84. By 2:00 pm, ET, both stocks were down, as you see in the chart above.

Meanwhile, Bitcoin has been a good sprinter. It is gaining some of the credibility it once lost due to reports of its volatile nature and risk of fraud. The digi-currency now sits pretty at $655.

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AAPL $95.18 1.64%
EBAY $23.98 -1.15%
DISH $47.39 -3.13%
FB $117.43 -0.96%
GOOG $692.36 -0.84%


Chart of I:DJI
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