RATE Group | Overstock’s Cryptocurrency Subsidiary is Now Worth More than the Entire Company
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Overstock’s Cryptocurrency Subsidiary is Now Worth More than the Entire Company

10 Aug Overstock’s Cryptocurrency Subsidiary is Now Worth More than the Entire Company

Posted at 21:16h in Cryptocurrency News by

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tzero ICO

When you visit Overstock.com, you’ll still be met by advertisements for discounted Martha Stewart Rugs and a coupon for an extra 10 percent off already-clearanced bedroom furniture. However, there’s no longer any denying that the firm is not primarily an e-retailer — it’s a cryptocurrency company now.

Cryptocurrency Startup tZero Now Worth More than Overstock

The firm, as CCN reported, was one of the first mainstream companies to embrace cryptocurrency — not just blockchain technology in general — and in addition to accepting bitcoin payments, the company has a venture arm dedicated exclusively to blockchain industry investments.

Now, a single one of those subsidiaries — tZero — is worth more than the entire Overstock company, after Chinese private equity firm GSR Capital invested $270 million to purchase a 15 percent ownership stake in the security token exchange operator at a $1.5 billion valuation.

According to the full term sheet, GSR will also purchase…

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