CEO Patrick Byrne has accumulated stash to 'survive three-month freeze'

[LiteCoinGuy]

CEO Patrick Byrne has accumulated stash to 'survive three-month freeze'

The boss of online marketplace Overstock.com has revealed he has stashed away $10million in gold and silver in the Utah wilderness as part of a back-up plan to survive any collapse of the U.S. financial system.

http://www.dailymail.co.uk/news/article-3322446/Overstock-com-reveals-prepper-plan-Online-retailer-buried-10m-gold-silver-secret-Utah-hideaway-hoarded-food-case-world-financial-struck-disaster.html

[1Referee]

I wonder if people will try to search through the entire ground of Utah to find the burried Gold and Silver being worth $10M. Not very smart to share such information with the outside world  

[Denker]

CEO Patrick Byrne has accumulated stash to 'survive three-month freeze'

The boss of online marketplace Overstock.com has revealed he has stashed away $10million in gold and silver in the Utah wilderness as part of a back-up plan to survive any collapse of the U.S. financial system.

http://www.dailymail.co.uk/news/article-3322446/Overstock-com-reveals-prepper-plan-Online-retailer-buried-10m-gold-silver-secret-Utah-hideaway-hoarded-food-case-world-financial-struck-disaster.html

So he digged a few holes in the desert of Utah to hide his precious metals there and is now shouting that out into the public?
If true that's not very smart. I already can see treasure hunters out there scanning the ground with their metal detectors.

[defaultking]

Yeah that's crazy. Even if you don't find everything and just find a piece of his fortune (a small piece at that) most people would still come out positive than working that year at their current day job.

[RealBitcoin]

Its a very good move, although I would have not disclosed its location, not even the area.

Because now every "treasure hunter" will search the place for his treasure and try to steal it.

If I were him, I would have purchased a cave, and built a fortress underground in the cave system, and put my gold there. With that kind of money its totally possible.

[richardsNY]

It's just insane that some one will openly speak about where he hided 10 million worth of anything somewhere in Utah. Also, 10 million to survive 3 months of freeze? 

[enhu]

I suppose he had it in mind really before announcing it. That must be to divert people checking his properties for his hidden stash.  This might not even be true.

[cellard]

CEO Patrick Byrne has accumulated stash to 'survive three-month freeze'

The boss of online marketplace Overstock.com has revealed he has stashed away $10million in gold and silver in the Utah wilderness as part of a back-up plan to survive any collapse of the U.S. financial system.

http://www.dailymail.co.uk/news/article-3322446/Overstock-com-reveals-prepper-plan-Online-retailer-buried-10m-gold-silver-secret-Utah-hideaway-hoarded-food-case-world-financial-struck-disaster.html

So he digged a few holes in the desert of Utah to hide his precious metals there and is now shouting that out into the public?
If true that's not very smart. I already can see treasure hunters out there scanning the ground with their metal detectors.

Yep this makes 0 sense. It's like getting all of your money in Bitcoin because you sense an imminent collapse and want to get your money out of the banks which will surely make your money disappear, and after you do this you say it all over the internet. Whats the point??

[randy8777]

this all might be part of a pr stunt. ceo of overstock is a wise man, can't see him put that much gold and silver under the ground. it doesn't make sense if it isn't a pr stunt.

[NorrisK]

It's probably locked in a bunker with a sophisticated alarm system and a lot of guards.

Put into the ground in the wilderness does not neccesarily imply that the gold and silver were actually just hidden a plain old hole in the ground. He might have, and probably has taken measures to protect it if he really did place it there.

[Amph]

i would do the same with paper wallet and bitcoin to be honest, would be about 30k bitcoin with he current price

gold will not increase much more is there since ages, bitcoin has much better potential

[Mickeyb]

I wonder if people will try to search through the entire ground of Utah to find the burried Gold and Silver being worth $10M. Not very smart to share such information with the outside world  

I am sure there will be people that will if not try, then at least scratch on the surface of this statement to see can they obtain some more info about this, just to see would unit be available to maybe find his stash!

I just hope that Byrne has hid it really well and hasn't left any traces, otherwise making this public would be very, very unwise!

[WhatTheGox]

Its a very good move, although I would have not disclosed its location, not even the area.

Because now every "treasure hunter" will search the place for his treasure and try to steal it.

If I were him, I would have purchased a cave, and built a fortress underground in the cave system, and put my gold there. With that kind of money its totally possible.

Do we know for sure he hasn't give people the wrong location, wrong amounts, wrong anything?

I would do the same if i could tbh.

[darkangel11]

I think he'd be better off spending some of these money or even giving to charity. Why would you even need these kind of money. In case of breakdown nobody will be thinking of supplying him the things he need in exchange for his gold and silver. They will all be planning a heist