Overstock to Retain Retail Arm, Support Blockchain and Crypto Ventures

The CEO of retail giant Overstock.com, Patrick Byrne, noted the potential profitability of the firm’s retail arm in its Q4 2018 earnings conference call on March 18. Byrne’s statements indicate that Overstock may not be divesting from its retail wing as soon as was previously indicated. Last year, Byrne reportedly told The Wall Street Journal that Overstock would sell off its retail wing sometime in early 2019. During the section of the conference call devoted to retail, Byrne said that “this is going to be a year of explosive growth,”…

Overstock CEO Praises tZERO Blockchain Platform in Q4 Earnings Report

Canadian online retailer Overstock.com said it would counter its significant losses for 2018 with a return to profits this year in its Q4 earnings report released on March 18. Overstock, which is famous as being one of the first major retailers to accept Bitcoin (BTC), saw profitability dive through last year as a result of a change of strategy, something CEO Patrick Byrne says he will now reverse. “Our retail arm lost money last year because I gunned things in an attempt to create a conventional high-growth/money losing e-commerce business,…

Investors in Overstock Crypto Subsidiary Reduce Investment from $404 Mln to $100 Mln

Chinese investment firm GSR Capital and Singaporean private equity firm Makara Capital will co-lead an investment of up to $100 million in tZERO, according to a press release on March 1. TZero is United States retail giant Overstock’s crypto-related subsidiary company. Overstock founder and CEO Patrick Byrne revealed that GSR and Makara have signed a Memorandum of Understanding (MoU) to make the investment in tZERO’s common stock in April. According to Byrne, the investment will support diligence, regulatory approval, and negotiation of binding contracts, as well as assist with tZERO’s…

Overstock Blockchain Subsidiary to Develop Land Registry in Tulum, Mexico

Retail giant Overstock.com’s blockchain-based land registry subsidiary has signed a Memorandum of Understanding (MOU) in Mexico to develop a digital land records platform. The news was revealed in a press release published by Nasdaq on Feb. 4. Under the agreement, Medici Land Governance (MLG) and the municipality of Tulum in Quintana Roo will jointly develop a digital platform for collecting real property ownership data issuing certificates of title to land and related proceedings. At a later stage, the parties will purportedly develop a method of automatically securing and storing land…

Overstock to pay taxes in Ohio using Bitcoin

Overstock is set to be the first major company that will pay its taxes in the state of Ohio using Bitcoin. The move is possible thanks to the US state passing a law that allows individuals and companies to pay taxes using crypto. The online retail giant said the step was part of continuous efforts to promote the use of cryptocurrencies. Overstock will lead the way by paying taxes using Bitcoin Patrick Byrne, the founder, and CEO of Overstock praised Josh Mandel, the Treasury of Ohio for making the state…

Overstock Wants to Pay its Ohio Business Tax in Bitcoin

Online retailer Overstock announced it would pay a part of its Ohio state business tax using bitcoin, making it the first company to use Ohio’s crypto tax portal, Fortune reported on January 3, 2019. Paying Taxes in Virtual Currency An online retail company has made new year’s headlines as being the first to make use of a relatively new phenomenon: Paying state taxes in crypto. According to Fortune, online retailer Overstock announced that it would be paying a part of its Ohio state business tax using bitcoin. This would make…

Bitcoin Price Analysis: BTC Bullish Above $3,700, Overstock Path Paving

Latest Bitcoin News Aside from Bakkt, the never-ending wait for US SEC to comment or even approve Bitcoin ETF, the crypto and Bitcoin sphere is bereft of market-moving news. True, there are essential updates from time to time and what dominates right now is Overstock plans of “paying” their commercial activity taxes (CAT) using Bitcoin in the US State of Ohio. In a statement, the founder of Overstock, Patrick M. Byrne said: “The Company is proud to partner with forward-thinking governments and officials like Ohio and Treasurer Mandel to help…

Digital Retail Giant Overstock Set to Use Bitcoin for Tax Payments in 2019 Already

The new year has begun just a couple of years ago but has already brought some surprising news for crypto enthusiasts. On Thursday, the US online retailer Overstock announced it would pay part of its business taxes in the state of Ohio with Bitcoin (BTC). The move is a way to promote cryptocurrency use. Overstock CEO and founder Patrick Byrne said: “We have long thought that thoughtful governmental adoption of emerging technologies such as cryptocurrencies (when accompanied by non-restrictive legislation over these technologies) is the best way to ensure the U.S. does not lose our place…

Overstock Becomes the First Major US Company to Pay Business Tax in Bitcoin

News The cryptocurrency-friendly company Overstock.com announced on Thursday that company will be paying part of its business taxes to the state of Ohio using bitcoin. Overstock will use the state’s Ohiocrypto.com website to pay for the corporation’s commercial activities tax this year. Also read: 10 Years Ago Bitcoin’s Genesis Block Changed the Course of History Overstock Pays the Company’s Business Tax in Bitcoin Last November, the U.S. state of Ohio launched a payment portal that allows businesses to pay taxes with bitcoin core (BTC) and bitcoin cash (BCH) via Bitpay’s payment…

Crypto Adoption: Pro-Blockchain Overstock Pays Taxes In Bitcoin (BTC)

Overstock Pays Business Taxes In Bitcoin According to a press release from Overstock.com’s Investor portal, the Salt Lake City-headquartered online retailer and blockchain technology startup will begin to pay its business taxes with Bitcoin (BTC). You might be thinking — the U.S. seems to avoid crypto like its the plague, so how is this possible? Well, as reported by Ethereum World News previously, per a piece from the Wall Street Journal, an Ohio politician, Treasurer Josh Mandel, pushed his state to accept BTC for 28 types of business taxes, which range…