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Category: Economy

Overstock CEO: $1 million bitcoin is possible

Overstock.com (OSTK) began accepting bitcoin as a form of payment in January 2014, becoming the first major retailer to allow these forms of cryptocurrency.

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Litecoin Founder Cashes Out, Sells Entire Stake After 9,300% Rally

Charlie Lee, the creator of the world’s fifth-biggest cryptocurrency, Litecoin, announced shortly after midnight that he was cashing in his profits after a torrid, 9,300% rally in the past 12 months. In a post on reddit, the San Francisco-based software engineer who founded litecoin in 2013, said that he sold and donated all of his holdings over the past few days.

Bitcoin billionaires: The digital currency is no bubble

“Money is a network. People believe in the U.S. dollar, it has more value. People believe in bitcoin, it has value. People believe in gold, it has value. And that’s not a linear increase. By definition, the more people that get into bitcoin, it makes it more valuable, and when we try and take like equities or stock bubble-type frameworks to bitcoin, it’s really — it’s misguided, because it’s a network, it’s not a company,” Cameron said during an interview on FOX Business’ “Wall Street Week.”