24 Dec '13, 3pm

Overstock CEO: 'I don't own bitcoin, but I'm a fan'

Overstock CEO: 'I don't own bitcoin, but I'm a fan'

Patrick Byrne thinks bitcoin could be a helpful addition to the payment system and his company plans to accept the currency, but even he has mixed feelings. FORTUNE -- Overstock.com, which sells everything from bedding to dinnerware online, recently announced it would accept bitcoin as early as June, making it the first U.S. retailer to use the virtual currency. Still in its experimental phase, bitcoin has fluctuated from as low as $13 in January to more than $1,200 in December. And while it has had a wild ride, Overstock's (OSTK ) plans to accept bitcoin as payment shouldn't be read as another bet that the currency will soar higher, says CEO Patrick Byrne. Fortune caught up with Byrne over telephone on Monday from his office in Utah. The executive is known to be a doomsdayer, siding with the likes of former libertarian U.S. Congressman Ron Paul, who has argued that the U....

Full article: http://finance.fortune.cnn.com/2013/12/24/overstock-ceo-b...

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Overstock.com CEO Patrick Byrne is endorsing Bitcoin. His company is the first major U.S. retailer to do so. NEW YORK (CNN...

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