Bitcoin is more powerful than physical money: Overstock CEO

Bitcoin soared to a record on Sunday, touching $8,100 briefly for the first time according to CoinDesk. While investors worry over the cryptocurrency being in a bubble, Overstock.com CEO Patrick Byrne explained why he’s optimistic, during an appearance on FOX Business’ “Mornings with Maria.”

“You think that’s a bubble? What do you think that fiat currency you carry around in your purse is?” Byrne told Maria Bartiromo. “This dollar stuff, it’s just some fiat currency based on … the surplus taxing authority of the U.S. Treasury of which I assert there is zero … It’s about time the world switches to real money. Either gold or bitcoin.”

Overstock was the first major online retailer to use bitcoin and is still among a handful of companies that are using it. Others include Expedia, Dish Network and Starbucks by way of the Fold app…

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