Overstock has promoted Joel Wright to chief operating officer of Medici Ventures, the company’s blockchain venture fund.
CoinDesk
‘Blockchain Revolution’ Is Bigger Than Anything We’ve Seen in History: Overstock CEO
Overstock founder and CEO Patrick Byrne is exiting the retail business so he can focus on blockchain because he believes it’s a disruptive technology that will transform the world. “The blockchain revolution has a greater potential than anything we’ve seen in history,” Byrne told Fox Business on Nov. 26 (video below). “It’s bigger than the
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Bitcoin Bounce: Overstock Shares Surge on Crypto Pivot Rumors
Following news that Overstock founder Patrick Byrne is selling the company’s retail business to focus on its blockchain offering, shares of Overstock have surged a massive 23.26 percent to end the day at $ 20.93. CCN earlier reported that Byrne decided to sell the retail business based on a conviction that tZero, the ICO backed by
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Online Retailer Overstock (OSTK) Gambles Its Future on Cryptocurrency
Shares of Overstock.com (OSTK) surged more than 23% on Friday after news dropped that the company is planning to sell its retail business in the next few months to pivot to focus solely on cryptocurrency and blockchain technology. According to the Wall Street Journal, Overstock founder and CEO Patrick Byrne could complete the sale as early as February 2019. […]
SludgeFeed
Full Crypto: Overstock CEO Patrick Byrne Selling Retail Business to Focus on Blockchain
Overstock’s highly-touted tZero project has been something of a money pit for the company, costing nearly $ 170 million in overall development costs with no live product yet available. Medici Ventures, Overstock’s blockchain investment arm, has acquired additional subsidiaries on the order of several more millions of dollars in an effort to expand its crypto portfolio. The
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Rwandan govt., Overstock subsidiary Medici Land Governance sign MOU to implement blockchain property rights, land governance management
Rwanda Information Society Authority (RISA) and Rwanda Land Management and Use Authority (RLMUA) have signed a Memorandum of Understanding (MOU) with Overstock.com, Inc.’s blockchain-meets-property rights subsidiary, Medici Land Governance (MLG). Founded as a portfolio firm of Medici Ventures, Overs…
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Overstock Crypto Venture, Rwanada Government Partner for Blockchain Property Rights Platform
Medici Ventures is a wholly owned subsidiary of Overstock, one of the most cryptocurrency friendly businesses in the world, whose CEO has frequently promoted the use of bitcoin and other cryptos. Medici is specifically geared toward blockchain businesses, development, and technology, and on Thursday it signed a second Memorandum of Understanding with the Rwandan Government
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Overstock subsidiary Medici Ventures invests in VinX
The wholly owned subsidiary of Overstock.com Inc., chief blockchain accelerator Medici Ventures, announced in a press release its communications agency, Method Communications, sent to CoinReport, its latest strategic investment in VinX, an Israel-based firm creating a blockchain platform to make win…
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Overstock CEO Sells 10% of His Stock to Invest in Blockchain Projects
The CEO of e-commerce giant Overstock (OSTK) has reportedly sold 10% of his stock holdings, roughly equalling $ 20 million, in an apparent effort to re-invest in blockchain projects. According to a report by CNBC, Patrick Byrne issued a letter to shareholders this week to explain the sales, which occurred between Thursday and Monday. The stock sales came after Bryne first disclosed […]
SludgeFeed
Bitcoin Price Watch: Some Strange Coincidences Between the Currency and Overstock
At press time, bitcoin has fallen back a bit and is now trading for just over $ 6,300. This is about $ 200 less than where it stood yesterday.
Some strange occurrences are happening in the bitcoin space. For example, one source notices that there’s a strong correlation between bitcoin and Overstock. Rather, Overstock’s stock (mini tongue twisters ahead). Both allegedly seem to be following the same patterns, and the story has been the same for the past four years.
Overstock Shares Plummet, Losing Around 50 Percent YTD
The cryptocurrency market has been in a steady decline for the last couple of weeks. Since the beginning of August, a little over $ 90 billion were wiped off the market. Popular e-commerce company Overstock has also felt the impact, forfeiting 50 percent of its value in 2018.
A Bumpy Ride
Much like other companies, Overstock marched into the field of digital currencies through its subsidiary – tZero – a venue hoping to become the very first regulated security token exchange.
Cryptocurrencies Are ‘A Much Cheaper Way of Doing Business,’ Says Former Overstock Chair
Jonathan Johnson, ex-chairman of Overstock’s board of directors, touched on the benefits of cryptocurrencies and noted the tremendous potential of blockchain-based technology. Despite the currently hemorrhaging market, he still sees a lot of advantages in utilizing cryptocurrencies over traditional credit card payments.
Better Than Credit Cards
Currently sitting on the Board of Directors of Overstock.com – a major online retailer accepting cryptocurrencies as a payment method — Jonathan Johnson shared his overtly positive sentiment towards virtual currencies and their underlying technology with Forbes.
Overstock Ups Investment in Bitt, Furthering Digital Currency Issuance by Central Banks
Today, Overstock’s Medici Ventures doubled down on its investment in the realm of digital currency for central banks. The additional $ 3 million dollar investment in Caribbean blockchain-based digital payment provider Bitt.com signals a reaffirmation of Overstock and Medici’s belief in the ability of digital currencies to become the de facto means of payment transactions.
Medici Ventures originally invested $ 4 million in the Barbados-based fintech company in 2016. At the time of the initial investment, Overstock CEO, Patrick Byrne, stated, “Bitt has a vision for the Caribbean of frictionless mobile cash, beginning with central banks transparently issuing digital fiat which is then exchanged on a blockchain (all under proper regulatory oversight, as with our tØ offering to Wall Street).”
Overstock Glitch Mixes Up Bitcoin and Bitcoin Cash
Retailer Overstock experienced a glitch in their system that allowed customers to pay for goods using Bitcoin Cash rather than Bitcoin, which is valued at a fraction of what Bitcoin is.
Not Quite a Discount
Online retailer Overstock is known for their many deals and sales, but a glitch on the company’s website allowed customers to get an unexpected bargain.
NobleCoin Marketplace Adds PSN, Xbox, Steam , Blizzard And Many More Gift Cards At 15% Discount!
It has been far too long since we last talked about NobleCoin, but there’s a good reason for that, as a lot of things are happening behind the scenes. What we can tell you is there has been an update to the NobleCoin Marketplace, so let’s take a look!
Even though I personally used the NobleCoin Marketplace multiple times, I usually ended up buying the same thing over and over again : Amazon Gift Cards. Nothing wrong with that, as I always have plenty of things I want to order from Amazon!
Bitcoin 2014 Keynote Live-Updates
08:55 It’s getting close to 9:00 AM, which means it’s about time to officially kick off Bitcoin 2014. Starting the day, we will be in attendance for the Keynote with Patrick Byrne. I’m very excited to be here, so let’s get to it! #BITCOIN2014
If you have no idea who Patrick Byrne is, he’s the CEO of Overstock.com, a big US retailer that recently started accepting Bitcoin as a payment method, and saw a very nice revenue stream on top of their other orders since doing so.
Today’s topic will be “500 Years of Liberalism from Holland to cryptocurrency“
Bitcoin Is Best For Business, Fiat Currency To Lose Ground?
Anyone with more than 3 peas for a brain should know by now that accepting Bitcoin payments is best for business.
We have seen it proven by bigger companies as well : Chicago Sun-Times has a 11% increase in subscribers, TigerDirect & Overstock are receiving extra orders worth several hundreds of thousands US Dollars,…..
Yet a lot of companies are still hesitant , or even refusing, to work with Bitcoin because of its volatile nature when it comes to the fiat value. Understandably so, as you don’t want to make a loss when selling a product to someone. Playing it safe, sure, go ahead.