Overstock CEO: Bitcoin Has a Possibility to Reach $1 Million
Bitcoin was accepted as a form of payment by Overstock.com in January 2014. It became the first mainstream market allowing to trade cryptocurrencies.
Currently, more than $100,000 of Overstock’s weekly transactions are forming crypto payments. Bitcoin has made more than 1,600% from the beginning of 2017 and now is traded over $16,000.
During an interview with FOX Business on Wednesday, the Overstock.com CEO Patrick Byrne said, “What I saw was the thing that was underneath bitcoin, this invention called blockchain. It’s going to change the world. It’s bigger than the internet. I wanted familiarization with it, so I started accepting bitcoin so that I could get a team of developers to learn about it,”
Byrne has also started a new venture into Initial Coin Offering (ICO) with his company tZero. As he told, it is the only ICO in the world pliable with Security and Exchange Commission standards.
“Basically there is the conventional world that you know and then there is this new universe created of bitcoin, of cryptocurrencies, of things built on the blockchain. We are developing basically a wormhole between the two universes,” Byrne said. “We have a great foot in this world. We’re developing these different bitcoin and blockchain applications. We want to become the toll bridge, the wormhole between the universes.”
Bitcoin is considered to be the most popular digital currency, which Byrne found as the the most important change in technology civilizations.