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Self-Proclaimed Libertarian Patrick Byrne Gets $100 Million from George Soros

    • # 1 NewsBot
    • 06 Jan 2018 09:01 pm
    • Status: Offline
    • Self-Proclaimed Libertarian Patrick Byrne Gets $100 Million from George Soros
    Overstock.com, founded by Patrick Byrne, disclosed in a Securities and Exchange Commission filing this week that the holder of a warrant had exercised its right to buy $100 million worth of shares. Of the $100 million Overstock received, Byrne said he anticipates $20 million will fund DeSoto Inc., the blockchain property rights joint venture he is working on in partnership with economist Hernando DeSoto. As for the other $80 million, Byrne said he intends to invest the funds across Overstock's flagship e-commerce platform (which accepts bitcoin for payments) and the other blockchain ventures that are part of its Medici Ventures subsidiary.

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