Overstock CEO Predicts Mass Crypto Adoption as Bitcoin Price Rises
Cryptocurrency markets have fallen by more than 70 percent this year. But according to a veteran from the industry, they are standing at the edge of a revolution.
Patrick Byrne, the CEO of Overstock, an Amazon-like marketplace which accepts payments in Bitcoin, said in a recent interview that he is still expecting cryptocurrencies to reach mass adoption. The Bitcoin bull highlighted the failure of the mainstream financial systems and how the people working under these systems have abandoned their hyperinflated currencies for decentralized assets like Bitcoin.
“People turn to it where they collapse, such as in Venezuela or Cyprus or Syria, something like that,” Byrne told YouTuber Naomi Brockwell.”When people start getting into it is when their [own] financial systems collapse. So yes, given that I think the entire modern financial system is a big Keynesian, magic money tree Ponzi scheme, I do expect that the day will come when people turn to crypto.”
Bitcoin this year has fallen…
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