50% of Abra CEO’s Portfolio is Bitcoin, As Cash is Turning “Worthless”

By Jenny Aurora | October 27, 2020

Bill Barhydt – co-founder and head of major P2P crypto exchange firm Abra – reportedly revealed his initiative to have more Bitcoin in his possession, making up 50% of his overall investment portfolio. 

Specifically, Barhydt reportedly discussed his holdings during an episode of Money Talks. During a YouTube livestream on October 23rd, Barhydt again concreted his bullish attitude towards Bitcoin, determining it to be “the single best investment opportunity in the world right now.”

The executive reportedly shared that how scarce Bitcoin is was reportedly among the most primary factors leading to his decision claiming Bitcoin to be the top investment option. 

“As the minting of new Bitcoin approaches zero in the coming years, its value versus fiat will continue to skyrocket in my opinion. Cash, or government-printed money also called fiat, is actually becoming worthless, while Bitcoin’s value remains constant. There will never be less fiat printed than is now. Cash is only going to get more and more worthless.” Barhydt reportedly remarked. 

Barhydt additionally provided his stance towards other aspects as well during the livestream, nominally Tether (USDT) and USD Coin (USDC), together with CBDC, stating that creating international CBDC, such as the digital yuan, do not equal ceasing all money printing activities. 

 “It’s the opposite, this actually makes it easier for them to continue their irresponsible behavior of simply printing money at will,”

Barhydt is reportedly generally viewed as one of the most pro-Bitcoin individuals. In October this year, Barhydt revealed that he has had a bullish stance on BTC price starting 2015, with previous remarks claiming Bitcoin to be a store of value, in comparison with Gold. 

Tags: , ,