Overstock CEO: Bitcoin is much more than just money

Overstock CEO believes that it’s high time we should switch from fiat money to crypto
25 November 2017   824

While a lot of investors worry about the cryptocurrency bubble status, Overstock.com CEO Patrick Byrne said why he’s so confident about succesful crypto-future, during an appearance on FOX Business’ “Mornings with Maria.”

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.


Patrick Byrne

CEO, Overstock.com

Overstock.com was the first web-service which began to use bitcoin.

There are also some handful companies, that support cryptocurrency movement from the very beginning, including Expedia, Dish Network and Starbucks by way of the Fold app. 

However, some of the world’s main leaders have criticized cryptocurrency over lack of regulation.

For example, Jamie Dimon, the CEO of JPMorgan Chase, said that bitcoin is nothing but a “fraud”.

Laurence Fink, the chairman and CEO of BlackRock, an American multinational investment management corporation has called bitcoin an “index for money laundering.”

BTC Extortionists to Send Explosion Threats In US & CA

Police reported that explosive devices in the places specified by extortionists were not found
14 December 2018   79

In Canada and the United States, local businesses and residents received letters threatening to detonate a bomb if they did not send bitcoins to extortionists. Because of this, in some regions, law enforcement officers evacuated people from bus stations, schools and airports, reports Global News.

Extortionists threatened to blow up universities, schools, city halls and local businesses in the US states of Utah, Aidaxo, New York, Oklahoma and Illinois. The New York City Police Department urged residents not to panic or send bitcoins to criminals. Police also reported that explosive devices in the places specified by extortionists were not found.

In Canada, extortionists promised to blow up buildings and car dealerships in Toronto, Edmonton, Ottawa, Calgary and Montreal. Some residents of the attackers asked for a ransom in bitcoins in the amount of $ 20 thousand. After verification, the Calgary police stated that the messages were part of phishing attacks and did not pose a threat to the public.