President Donald Trump said Monday he's in no rush to respond to a coordinated attack that hit Saudi Arabia's oil industry over the weekend.Marketsread more
The price of oil could go sharply higher, depending on the duration of the disruption at Saudi oil facilities and whether there is a military response.Powering the Futureread more
Energy stocks, one of the worst-performing sectors this year, spiked Monday after an attack on Saudi Arabia's heart of oil production Saturday sent oil prices soaring.Marketsread more
The Saudi-led military coalition battling Yemen's Houthi movement said on Monday that the attack on Saudi oil plants was carried out by Iranian weapons and did not originate...Oilread more
"The United States military, with our interagency team, is working with our partners to address this unprecedented attack and defend the international rules-based order that...Politicsread more
Crude oil's spike following attacks on Saudi Arabia's energy supply has experts weighing whether or not the gains will last.ETF Edgeread more
Traders in the fed funds futures market on Monday were pricing in a 34% chance that the Fed will stay put on rates.The Fedread more
Gas prices could rise by about 20 cents per gallon "starting tomorrow," oil analyst Andy Lipow says Monday.Oil and Gasread more
Some operators are cashing in on the CBD craze by substituting cheap and illegal synthetic marijuana for natural CBD in vapes and edibles such as gummy bears, an AP...Health and Scienceread more
Attack on Saudi oil facilities shows that 'risk is real', Chevron CEO Michael Wirth said on CNBC's "Closing Bell" Monday.Marketsread more
J.P. Morgan's chief quant says oil prices would start to hurt stock prices when they hit the $80 to $85 range.Market Insiderread more
Michael Cammarata, co-founder and CEO of Schmidt's, told CNBC that in an era of cryptocurrency the company is giving consumers what they want.
"Some of the [website's] subscribers were like, 'Hey, we want to be able to pay in bitcoin,'" he said Tuesday on "Power Lunch."
Now customers can shop on the company's website for a variety of natural products — including deodorant, toothpaste and soap — and check out with bitcoin.
The company uses BitPay, a bitcoin payment service provider, for online transactions.
Bitcoin was priced around $8,500 on Tuesday. While the price disparity between a single bitcoin and a bar of soap, for example, may be huge, Cammarata said BitPay allows users to pay a fraction of each bitcoin. In addition, most shoppers use the coins to buy monthly or yearly subscriptions, not "one-off purchases," he said.
Subscriptions, he said, are "totally customizable," allowing customers to order on a long-term basis and decide what and how much they want. Cammarata said that so far, most people using bitcoin are parents who are buying yearly subscriptions, or packages of toiletries, for their college kids.
Schmidt's is the first Unilever store to accept bitcoin as a payment. It started on Monday. The company, which Unilever recently acquired, also sells products at retailers such as Target, Macy's, Bloomingdale's and drug stores nationwide, Cammarata said. But for now, bitcoin can only be used for payments on the website.
And, for now, bitcoin is the only digital coin accepted. But Cammarata said the payment method might expand to include cryptocurrencies such as ripple and ethereum.
"We're going to start with bitcoin and see how it goes," Cammarata said. "If the demand is there we'll expand."