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.’