Patrick Byrne left the Overstock company last week but the company still remained crypto ambitious despite his departure. Let’s read more in the coming altcoin news below.
The ex-CEO made Overstock one of his first retailers ever to start accepting bitcoin way back in 2014 making it a pioneer in the industry. Overstock’s new boss Jonathan Johnson stated that he has no plans to change the current model and said that he will remain crypto-friendly and ‘’all-in’’ on the blockchain. He stated:
“The fact that I am stepping into the CEO role means more of the same and more of the same focus for our blockchain business.’’
Since the company started accepting BTC over five years ago thanks to Patrick Byrne, there have been many developments for the company which now has two divisions: Medici Ventures which is a blockchain arm of the company and Overstock.com. According to Forbes reports, the blockchain arm of the company has a number of smaller firms under its wing labeled as ‘’Keiretsu’’ which is the Japanese term for describing companies with overlapping interests. Medici Ventures has also planned to expand the network of blockchain businesses since it now has about 18 companies that work together on multiple blockchain projects. However, the growth will not be very fast as the past three years according to the new CEO who added that he would like to see some more crypto assets accepted by the retail division:
“I would love to see Overstock accepting ravencoin, I just think that would be great. My view is any kind of widely accepted cryptocurrency, Overstock should be accepting.’’
Ravencoin, for example, is ranked at number 40 in terms of the market cap so is hardly one of the top altcoins since it dumped more than 50 percent this year only since June. When Johnson was asked about the security token trading platform tZero, he added that he was fully behind the project and continued that brining the quality tokens in the game would be a priority for the platform rather than announcing a timeline. He also mentioned that there are two other subsidiaries in the Keiretsu, Bitt, and Voatz and he noted as we can read in the latest cryptocurrency news:
“Someday in the not too distant future everyone’s voting on mobile phones on a blockchain app and we’ll wonder ‘How did we do it the old way?’’
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