Abra CEO's portfolio is 50% Bitcoin as cash is 'becoming worthless'

Monday 26 October 2020, 8:00 PM AEST - 1 month ago

The co-founder and CEO of major cryptocurrency company Abra is clearly bullish on Bitcoin (BTC).

In an Oct. 23 tweet, Bill Barhydt, CEO of peer-to-peer payments platform Abra, claimed that he has significantly increased his Bitcoin holdings a few weeks ago. According to the CEO, Bitcoin now accounts for 50% of his total investment portfolio.

Barhydt talked about his holdings on an episode of Money Talks. In an Oct. 23 YouTube live stream, Barhydt reiterated his bullish stance on Bitcoin, claiming that Bitcoin is the single best investment opportunity in the world right now.

The executive said that Bitcoins scarcity is one of the biggest reasons why the cryptocurrency is the best 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, Barhydt said.

Cash, or government-printed money also called fiat, is actually becoming worthless, while Bitcoins value remains constant. There will never be less fiat printed than is now. Cash is only going to get more and more worthless.

During the live stream, Barhydt also touched upon stablecoins like Tether (USDT) and USD Coin (USDC) as well as central bank digital currencies, or CBDCs. He argued that the issuance of global CBDCs like the digital yuan does not mean that central banks are going to stop printing money. Its the opposite, this actually makes it easier for them to continue their irresponsible behavior of simply printing money at will, Barhydt said.

Barhydt is known as one of the most prominent Bitcoin bulls. In early October 2020, Barhydt claimed that he has been bullish on BTC price since 2015. Previously, Barhydt

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