Abra's CEO purportedly increased his holdings prior to Bitcoin touching new 2020 highs.
The co-founder and CEO of major cryptocurrency company Abra is clearly bullish on Bitcoin.
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.
"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 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 is known as one of the most prominent Bitcoin bulls.
Previously, Barhydt called Bitcoin a store of value comparable to gold.
On Oct. 22, Bitcoin price recorded its new 2020 high of $13,217 in the aftermath of PayPal enabling cryptocurrency purchases.
Subsequently, famous Wall Street investor and billionaire Paul Tudor Jones praised Bitcoin on CNBC's Squawk Box morning show, stating that he likes Bitcoin "Even more than I did then." The billionaire investor also claimed that holds a "Small single-digit investment" in Bitcoin.
Abra CEO's portfolio is 50% Bitcoin as cash is 'becoming worthless'
Udgivet den Oct 26, 2020
by Cointele | Udgivet den Coinage
Coinage
Nævnt i denne artikel
Seneste nyheder
Se alt
First Mover: What's Next for Bitcoin as Wall Street Gets Vaccine Booster
Bitcoin was higher for a second day, staying in a range of between roughly $15,200 and $15,600, as news of progress in developing a coronavirus vaccine appeared to touch off a rally in U.S. stocks.
Market Wrap: Bitcoin Fails to Break $15.9K; Over 50K ETH Staked on Eth 2.0 Contract
Bitcoin gained Wednesday while Ethereum 2.0 staking has been ramping up.
Citibank Analyst Says Bitcoin Could Pass $300K by December 2021
A senior analyst at U.S.-based financial giant Citibank has penned a report drawing on similarities between the 1970s gold market and bitcoin.
Blockchain Bites: Data Unions. Hard Forks. And One Citi Analyst's Case for $300K BTC.
A Citibank managing director thinks bitcoin could hit $318,000.