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Bitcoin: Boom For Content Providers, Bust for Credit Card Companies

1/16/14 12:57 PM EST
Wedbush Securities Computer Services Analyst Gil Luria says online retailers, such as Overstock, will benefit from lower transaction charges as they start accepting Bitcoin. Luria says adding Bitcoin to eBay's Paypal digital wallet will helpt to lower the company's funding cost. Another group of winners may be online content providers who will be able to charge for so-called 'micro transactions' i.e. per minute of video viewed or per article read versus monthly subscriptions. Luria says the losers will likely be the large credit card companies, like Visa and Mastercard, who have a stronghold on transaction processing. TheStreet's Ruben Ramirez reports from New York
Stocks in this video: VMAZNGAOSTKEBAY
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