Overstock Shares Crash as Former CEO Cashes Out – Goes All In on Crypto and Gold

Ousted former CEO of Overstock, Patrick Byrne, revealed via a regulatory filing on Wednesday that he offloaded his entire holdings in the internet retailer he’s been at the helm for since 1999.

In a post directed to former colleagues of the company, Byrne stated that by Friday, Sept. 20 all proceeds, minus tens of millions in taxes, will have made their way into “counter-cyclical” investments including gold, silver and “two flavors” of crypto.

The kooky businessman didn’t, however, reveal which cryptocurrencies would receive a bid thanks to the cash injection. Byrne’s resignation last month followed a series of public self-disclosures of his involvement in FBI-linked espionage.

Indeed Byrne’s tagline on his DeepCapture blog states: ‘I am a concerned citizen who has been hunting the oligarchy since 2004 and the Deep State since 2006.’

Reference: https://www.ccn.com/overstock-former-chief-cashes-out/

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