Overstock will sell its retail business and move to crypto from here February

Overstock plans to sell its decades-old retail business in the coming months to make way for a full blockchain bet.

Bitcoin itself traded close to $ 4,200 on Friday, a decline of about 80% since its peak reached in December 2017.

Many Wall Street CEOs have denounced bitcoin as a scam or bubble, while Warren Buffett of Berkshire Hathaway has compared it to a rat poison. But its underlying technology is more widely accepted by SOEs. IBM, JP Morgan, Deloitte, Amazon and Facebook are among those who implement technology in one way or another.

Yet skeptics abound on the side of the blockchain. The world's economist Nouriel Roubini, one of the few to have predicted the 2008 financial crisis, recently called this technology "the most oversized – and the least useful – technology in the history of mankind".