Overstock CEO: Amazon will be forced to accept bitcoins

Overstock CEO: Amazon will be forced to accept bitcoins

Patrick Byrne, CEO of Overstock, one of the largest retail companies in e-commerce world and the first in the business to accept bitcoins, was interviewed on CNN after insured on Twitter during the first 24h sold products by the equivalent $ 130,000 in bitcoins. While Byrne said he has full confidence in Bitcoin, and that he himself has bitcoins said to be followed by converting income Overstock dollars (using Coinbase) until its suppliers begin to accept criptomoneda. He also spoke of the possibility of investing in financial derivatives to hedge against volatility. Commenting on the competition, predicted that Amazon will be forced to accept bitcoins at some point, because "it would be foolish to give up a market that is growing 30% per month."

Source: businessinsider.com