We hope that Patrick Byrne comes back to Overstock (OSTK) to save the company he founded. We have never been a shareholder of OSTK, but it is crazy to see how their current CEO decided to throw away the Overstock brand that they built up over a period of 23 years and replace it with the damaged brand of Bed Bath & Beyond that they acquired out of bankruptcy court. How could they possibly think it was a good idea to rename their website after a bankrupt company? Anybody who has been to a Bed Bath & Beyond during the past decade, didn't have a pleasant experience, but this idiot running Overstock after Patrick left the company thought it was a good idea to cater to "meme stock" investors who are already broke after investing into BBBYQ, AMC, and GME?
We love how Eric Sprott was able to trick the scumbag CEO of AMC into investing into gold mining company Hycroft after its mines had become depleted without any remaining gold. He knew the "meme stock" investors would chase it higher allowing him to offload all of his shares for a profit. It was a genius move.
After Patrick sold all of his OSTK shares in September 2019 for more than $20 per share he put 50% of his wealth into gold and 50% into Bitcoin. Gold was $1,464 per oz and rallied by 42% to a record high of $2,075 per oz within eleven months. Bitcoin was $8,298 and after trading sideways for a year started to breakout big in September 2020. Recently, Patrick donated $100,000 of his Bitcoin to RFK Jr. He is apparently trying to give it all away before it becomes worthless. Gold is about to make a much larger upward move than it made in 2019/2020!
It is a shame that Patrick was forced to leave OSTK by its insurers simply because he mistakenly dated a Russian spy, Maria Butina. He obviously had no idea she was a spy, so what right did the insurers have to force Patrick out of a company he founded? Ironically, Patrick's father was former Chairman of Geico and sold the company to Berkshire Hathaway. Warren Buffett was Patrick's mentor growing up at a time when Warren Buffett wasn't the famous billionaire.
Patrick is a true American Patriot who snuck into the White House with General Flynn on December 18, 2020, bullshitting their way past secret service and working their way up to the oval office without any scheduled appointment to inform Trump about how the election was stolen. At the time, Trump was being isolated by his senior staff and had no idea how the election was stolen. Trump saw them standing down the hall talking to one of General Flynn's former associates and waved them into his office where Patrick provided Trump with all of the information that he needed to learn.
Click here to watch a video Patrick made this week about how Smartmatic has been indicted for rigging a Philippine election!