Overstock CEO: It’s Time We Switch to Real Money, Either Bitcoin or Gold by Francisco Memoria
Read the full article at:
https://www.cryptocoinsnews.com/overstock-ceo-its-about-time-the-world-switches-to-real-money-either-bitcoin-or-gold/
Shots fired from Overstock.com's Patrick Byrne..
"Patrick Byrne, whose company Overstock began accepting bitcoin back in 2014, showed optimism towards cryptocurrencies, while pointing out fiat isn’t really backed by anything. When asked about bitcoin being a bubble, he stated:
“You think that’s a bubble? What do you think that fiat currency you carry around in your purse is? This dollar stuff, it’s >just some fiat currency based on … the surplus taxing authority of the U.S. Treasury of which I assert there is zero … It’s >about time the world switches to real money. Either gold or bitcoin.”
"Speaking to FOX Business, Byrne took a different approach, and didn’t make it all about bitcoin, but about fiat:
“The real question is not how high can bitcoin go. The real question is how low can fiat currency go—and at the end of >the day all fiat currencies have gone to zero and that’s because they end up with irresponsible money printing.”
"FOX Business pointed out that Saudi Prince Alwaleed predicted that bitcoin would implode, but neglected to mention that the bitcoin-bashing Prince was arrested for money laundering earlier this month."
I find that strange, how come all the money launderers hate Bitcoin? How come this doesn't get any press? Instead, all you hear is Bitcoin is for money launderers but it appears they prefer the current financial institutions for laundering their money. They must not like Bitcoins' public ledger.
Anyway, back to Overstock:
"It early on announced it would donate 4% of its bitcoin revenue to organizations promoting bitcoin adoption, and in 2015 gave its staff the option of being paid in the cryptocurrency."
"Earlier this year, the company announced it would accept 40 different altcoins including Litecoin, Dash, and NEM, and that it planned on holding 50% of what it receives as an investment."
"Last month, CCN reported that the company’s shares surged 30% following the announcement of a $500 million ICO."
Right on!