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The Abra CEO’s portfolio is 50% Bitcoin

October 26, 2020

The co-founder and CEO of the major cryptocurrency company to open is clearly optimistic about Bitcoin (BTC).

In one Tweet 23rd October Bill Barhydt, CEO of Abra peer-to-peer payment platform, claimed that it significantly increased its bitcoin holdings a few weeks ago. According to the CEO Bitcoin now makes up 50% of your total letter of investment.

Barhydt spoke about his participation in an episode of Money talks. In a YouTube livestream on October 23 Barhydt reiterated its bullish stance on Bitcoinand state that “Bitcoin is currently the best investment opportunity in the world.”.

The Abra CEO’s portfolio is 50% Bitcoin
The Abra CEO’s portfolio is 50% Bitcoin

The executive said Bitcoin’s scarcity is one of the main reasons why cryptocurrency is the best investment option. “In my opinion, the value of the new Bitcoin will continue to rise if the coinage of the new Bitcoin approaches zero in the next few years.”Said Barhydt.

“Cash, or government printed money, also known as fiat, is actually depreciating in value while the value of Bitcoin remains constant. There will never be less Fiat in print than now. Cash is becoming more and more useless. “

During the live broadcast, Barhydt also referred to stablecoins as Tether (USDT) and USD Coin (USDC).as well as digital currencies from the central bank or CBDC. He argued that issuing global CBDCs like the digital yuan does not mean central banks will stop printing money. “On the contrary, it actually makes it easier for them to continue their irresponsible behavior of just printing money at will.”Said Barhydt.

Barhydt is known as one of the most famous bitcoin bulls. At the beginning of October 2020, he stated that he had been optimistic about the price for BTC since 2015. Barhydt called Bitcoin a store of value comparable to gold.

The CEO’s comments come after Bitcoin hit new highs this year. October 22nd Bitcoin price hit its 2020 new high of $ 13,217 after PayPal enabled cryptocurrency purchases. Later the famous Wall Street investor and billionaire Paul Tudor Jones praised Bitcoin on the morning show Squawk box from CNBC, claims he likes Bitcoin “even more than before”. The billionaire investor also claimed he had a “small single-digit investment” in Bitcoin.