Patrik Byrne, CEO of Overstock.com, a major US EC site, revealed that he plans to focus on the block chain business by selling its main business, the retail business .
According to WSJ, although the sale destination is not stated, it says that the business sale is early and ends in about February 2019.
Mr. Patrik invested $ 175 million on Medici Ventures INC, a subsidiary of Overstock.com, which is engaged in the block chain investment business, but in the year 2017 it was 22 million dollars (about 2.5 billion yen), in the first three quarters of 2018 39 million Dollar (approx. 4.4 billion yen) losses are recorded.
However, he sells his own stock of Overstock.com and reinvests in Medici, ” I’m betting on the future of the block chain, I do not care if there is loss now .”
Also, in Fox Business’s interview, ” Block chain revolution has much greater potential than the Internet revolution “, he says, expectations of his block chain.
Article Source: Overstock’s Founder Bets on Blockchain, Not Bedsheets
Author: NT 【Coin Desk News】 – Source Post: https://crypto-times.jp/overstock-ceo-blockchain/
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