In a recent video interview, Patrick M. Byrne, the Founder and CEO of Overstock.com, Inc. (NASDAQ:OSTK) made it clear that if we want to fix the injustices caused by the war on drugs, “we oughta start by legalizing at least weed.”
Beyond social justice, there may be another benefit of marijuana legalization for Byrne. In September 2018, he sold roughly $20 million worth of OSTK shares in order to “fund sidecar investments with the company.” One likely sidecar is the blockchain-focused Overstock.com subsidiary, Medici Ventures.
With many wondering whether or not blockchain will fix the cannabis industry’s banking problems, we wouldn’t be surprised if Medici was working on a solution.
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