The price of bitcoin has been on a tear over the last year, but the number of top merchants who accept the cryptocurrency as a form of payment has retreated. That’s puzzling to Jonathan Johnson, the president of Medici Ventures, the venture capital subsidiary of online retailer Overstock. Johnson played an integral role in getting the retailer known for its furniture stock to accept the cryptocurrency. He told Business Insider that Overstock has seen a “modest” uptick in the number of bitcoin transactions taking place on the site, and he thinks it’s “crazy that so many retailers don’t accept bitcoin.” The cryptocurrency is accepted at just three of the top retailers monitored by Internet Retailer, according to a recent research note by Morgan Stanley. That’s a decline
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