We interview Patrick Byrne, CEO of Overstock.com In this interview, we discusses how he positioned Overstock as the first billion dollar company to accept Bitcoin. As well as a free ranging discussion on blockchain, investments, and the recently announcement that Overstock is now accepting up to 45 different crypto-currencies. Here are 7 key take-aways from the conversation:
- Overstock.com is one of the 3 largest retailers who accept cryptocurrency payments.
- Overstock has almost 2 million in cryptocurrency sales annually.
- Overstock retains up to 50% of cryptocurrency as a ‘reserved hedge’ against market and systemic risk
- Blockchain will help make government honest
- Medici Ventures is Overstock’s investment arm, having invested 60 million in 7 blockchain companies
- Medici’s investments have a strategy to disrupt the capital markets with their investments.
- The ICO world is currently the “Wild West”
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