Abra’s CEO and co-founder boosted his holdings before BTC reaching new 2020 records. Bill Barhydt, CEO of leading cryptocurrency company, is bullish on Bitcoin.
What is Abra? Abra is a financial services and technology company which operates a cryptocurrency wallet and exchange. It is believed that Abra is one of the safest wallets in the cryptocurrency area.
CEO of peer-to-peer payments platform abra, Bill Barhydt, on October 23 posted on his Twitter that he has significantly boosted his bitcoin holdings a weak ago. If we believe to Bill Barhydt, BTC now accounts for 50% of his total investment portfolio.
Significantly, the company CEO talked about his holding on an episode of Money Talks where Bill Barhydt repeated that he is bullish on Bitcoin. He was claiming that Bitcoin is the single best investment opportunity in the world right now.
Bill Barhydt reported that Bitcoin’s scarcity is one of the biggest reasons why the cryptocurrency is the best investments option. According to the CEO, as the minting of new Bitcoin approaches zero in the following years, its value against fiat will resume skyrocketing.
Government-printed money is becoming useledd while BTC’s value is constant
Abra CEO reported that Cash, or government-printed money also called fiat, is becoming useless, while Bitcoin’s value is constant. There will never be less fiat printed than is now. Currency is only going to get more and more useless.
Barhydt also talked about stablecoins like Tether and USD coin as well as CBDC (central bank digital currencies). He argued that the insurance of global central bank digital currencies like the digital yuan does not imply that central banks are going to quit printing money. According to the CEO, It’s the opposite, and this makes it easier for them to continue their irresponsible behaviour of simply printing money at will.
Moreover, Abra CEO is known as one of the most famous BTC bulls. In early October 2020, Bill Barhydt made a statement according to which he has been bullish on Bitcoin price from the 2015 year. Previously, Barhydt named Bitcoin a store of value comparable to gold.
Bill Barhydt’s comments follow BTC reaching new highs this year. Besides, Bitcoin prices hit its new 2020 record of $13,217 on October 22. Paul Tudor Jones, famous Wall Street investor and billionaire praised Bitcoin on CNBC’s Squawk Box morning show, stating that he likes Bitcoin. The billionaire investor Paul Tudor Jones also claimed that holds a small single-digit investment in BTC.