Overstock.com CEO Explains Why He Wants to Accept Bitcoin

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Following last week’s news that Overstock.com plans to start accepting Bitcoin, Overstock.com CEO Patrick M. Byrne has been in the spotlight.

Byrne shared his enthusiasm about Bitcoin on FOX Business’ Varney & Co (starting at 1:09 in the video below).

“You like Bitcoin?” asked the TV show hosts, quizzically.

“Bitcoin is just the opposite of the Federal Reserve,” said Byrne. “If you believe in limited government, you need a monetary system that doesn’t give them unlimited power.”

Overstock.com CEO Bitcoin

Bitcoin is mathematically limited and scarcity is a key, explained the CEO of Overstock.com. His company recently announced that they plan to accept the digital currency.

Byrne clarified that he is not making a bet on the value of Bitcoin; it’s more akin to an alternative payment method or a foreign currency, he said.

Watch the video below for the full interview.


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3 Responses to Overstock.com CEO Explains Why He Wants to Accept Bitcoin

  1. […] Overstock.com CEO Explains Why He Wants to Accept Bitcoin […]

  2. […] made headlines with an announcement that it will start accepting Bitcoin next year. CEO Patrick M. Byrne explained why he wants to accept Bitcoin and said that price volatility doesn’t worry […]

  3. […] December, Overstock.com CEO Patrick M. Byrne announced plans to begin accepting Bitcoin as payment in the second half of 2014. Obviously anxious to get the show on the road, less than a month later, […]

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