As the first major retailer to accept Bitcoin, Overstock.com was once at the forefront of the cryptocurrency revolution. But does Overstock own Bitcoin now?
The answer is a little complicated. In 2014, Overstock became the first major retailer to accept Bitcoin as payment.
At the time, CEO Patrick Byrne was a big proponent of Bitcoin and blockchain technology. He even called Bitcoin “better than gold.”.
NOTE: WARNING: Overstock does not own Bitcoin. Please be aware that any claims made to the contrary are false. Investing in cryptocurrencies carries a high level of risk and should only be done with caution and after researching the market thoroughly.
However, since then, Overstock has sold most of its Bitcoin and is no longer accepting it as payment. So what happened?
It’s not entirely clear why Overstock changed its tune on Bitcoin. Byrne has said that the company sold its Bitcoin because it was more interested in blockchain technology than cryptocurrency.
It’s also possible that Overstock simply got tired of dealing with the volatility of Bitcoin prices.
Whatever the reason, it’s clear that Overstock is no longer a big supporter of Bitcoin. However, the company does still own some Bitcoin, and it’s possible that it will start accepting it again in the future.
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Overstock.com, Inc. is an American internet retailer headquartered in Midvale, Utah, near Salt Lake City.
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Overstock.com, Inc. is an American internet retailer headquartered in Midvale, Utah, near Salt Lake City. Patrick M.
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Overstock.com, Inc. is an American internet retailer headquartered in Midvale, Utah, near Salt Lake City. Patrick M.
