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| December 14, 2017

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Company Archives - Shares Skyrocket as Morgan Stanley Buys Passive Stake in Bitcoin-Friendly Company

December 12, 2017 |

In a filing with the Securities and Exchange Commission (SEC), Morgan Stanley has revealed it owns a large passive stake in online retailer News of the company being gobbled up by the legacy bank caused the bitcoin-friendly outfit’s stock price to rise sharply for the third time this quarter.

Also read: New Wallet from Opendime, the Coinkite Coldcard, is Cypherpunk Cool Shares Skyrocket as Morgan Stanley Buys Large Passive Stake in Bitcoin-Friendly Company

Overstock Shares Jump 22% on Morgan Stanley News

And so it begins. Legacy bank Morgan Stanley (NYSE: MS), which celebrated its 82nd year of business this Fall, purchased 11.4 percent of (NASDAQ: OSTK), an online retailer around for a quarter of MS’s tenure. Shares Skyrocket as Morgan Stanley Buys Large Passive Stake in Bitcoin-Friendly Company
Page 4 of SEC G13

Back in 2014 Overstock became the first major retailer to accept bitcoin.

In accordance with SEC regulations, Morgan Stanley filed a 13G, an eight-page document detailing the purchase. Of interest in the filing were the facts MS made the purchase November 30, and that it owned close to 3 million shares, a little more than 11 percent of the company.

Shares of Overstock have grown roughly 200 percent this year alone, and mostly on the company’s embracing bitcoin and blockchain technology applications.

News released December 11 of MS’s purchase caused yet another rise in Overstock’s price, up some 20 percent in one trading day.

As of this writing, neither company has spoken with the press nor made any public statements.

From Retailer to Crypto Ambassador

It has been a good quarter for the online retailer. Back in October, reported an 11 percent jump in price, and in November its stock price did three times that in a single day after analysts praised its embrace of bitcoin and blockchain.

Certainly news of bitcoin being courted by mainstream futures and derivatives markets, Cboe and CME this month, haven’t hurt Overstock’s pivot away from e-commerce and more toward tech. It’s also set to launch an initial coin offering in roughly a week as a distributed ledger platform for capital markets. Shares Skyrocket as Morgan Stanley Buys Large Passive Stake in Bitcoin-Friendly Company
CEO Patrick Byrne

As a retailer, Overstock’s performance, ironically, has left a lot to be desired. According to The Motley Fool, “The company posted a net loss of $ 11 million over the trailing-12-month period, and has lost money on an operating basis in four of the past 10 years. Its operating margins hover around 1% in its best years.”

It appears investors see it less as an online storefront and more as a potential cryptocurrency/blockchain company of some kind. Also, Overstock is known to hold back its bitcoin in order to invest in cryptocurrency related projects, though it hasn’t said exactly how much it has on hand.

What are your thoughts on Let us know in the comments section below.

Images courtesy of Pixabay, Mises Institute.

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Bitcoin News

The company that has turned your Facebook friends into a leggings sales force

December 11, 2017 |

Betsy Stover was 17 when her mother asked her to help fax strangers, hawking a service that had the markings of a pyramid scheme.

“I always felt like a creep sending unsolicited faxes,” said Stover, who hated the chore, but knew the work required cold calls to succeed.

Stover, now a 38-year-old…

L.A. Times – Business

For-profit DeVry University is getting a new owner: a Silicon Valley company

December 6, 2017 |

DeVry University, one of the nation’s largest remaining for-profit college chains, is getting a new owner.

The chain’s parent company, Illinois-based Adtalem Global Education Inc., plans to transfer ownership of DeVry University and its Keller Graduate School of Management to Silicon Valley-based…

L.A. Times – Business


The Weinstein Company Sued by Producers Who Say Harvey Was ‘Ticking Time Bomb’

December 4, 2017 |

A husband/wife producing team is suing The Weinstein Company, claiming they were lured into a trap because the company knew Harvey was a ticking time bomb and the result was that their project was torpedoed. Scott Lambert and Alexandra Milchan claim…

Anaheim janitorial company paid workers below minimum wage, lawsuit alleges

November 30, 2017 |

California Atty. Gen. Xavier Becerra sued an Orange County janitorial company, alleging the firm engaged in a conspiracy to defraud its workers who clean the stores of major retailers throughout the state.

Becerra, in a suit filed Thursday in Orange County Superior Court, alleged One Source Facility…

L.A. Times – Business

PR: Chasyr – the Blockchain Powered Ridesharing Company

November 29, 2017 |

Chasyr - Blockchain Ridesharing

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. does not endorse nor support this product/service. is not responsible for or liable for any content, accuracy or quality within the press release.

It won’t be long before Chasyr becomes synonymous with ridesharing in California. In order to make that happen, they have been diligently building the foundation for their project to succeed as a ridesharing company powered by cryptocurrency and blockchain technology.

With the early support from their online and offline community, it seems they will not have problems with obtaining a huge demand when they launch in 2018, especially after partnering with the Fresno Grizzlies aka the Houston Astros farm team. The team will be exhibiting their prototype while building it out at future blockchain and startup events in California to prepare their potential userbase for what is coming. They are currently in search of accredited seed investors to accept funding from and plan to have a token sale once their app is ready to put Chasyr Credits to use.

“Were not making this to see what it does. This is it, we are going to change the ridesharing industry with cryptocurrency regardless.” – CEO Tommy Marquez

This six month bootstrapped startup is going to be a licensed transportation network company to run on cryptocurrency and is now testing their alpha prototype which is available on

Contact Email Address
Supporting Link

This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

The post PR: Chasyr – the Blockchain Powered Ridesharing Company appeared first on Bitcoin News.

Bitcoin News

Gary Goddard, accused by Anthony Edwards of sexual assault, takes leave from his company

November 28, 2017 |

Gary Goddard, the producer and theme park attraction designer, is taking a leave of absence from the company he founded amid allegations that he sexually assaulted minors.

The Goddard Group, a North Hollywood entertainment design company, announced late Monday that Goddard’s duties will be assumed…

L.A. Times – Business


Xzibit Sues Construction Company for Screwing Up His New Pool

November 22, 2017 |

Xzibit and his wife are gunning for the guys they hired to build them a luxurious backyard oasis … claiming they screwed it all up, and didn’t even finish the job. Xzibit says the folks at Edge Water Construction were supposed to install a…

Japan Company Offers Sincere Apology When Train Leaves 20 Seconds Early

November 16, 2017 |

The Tsukuba Express was scheduled to depart Tokyo for Tsukuba at 9:44:40. Instead, it left at 9:44:20. If you’re thinking, “the horror!” then you’ll be glad to hear that management for the Japanese rail company has formally apologized for the train’s 20-seconds-early departure. “The crew did…