Abra CEO and founder Bill Barhydt now sees Bitcoin as a store of value.

[roberthays]

Having initially been quite sceptical Bill Barhydt has now come out and proclaimed that he agrees on Bitcoin being a store of value by stating that "today Bitcoin is best used as a store of value that will become more and more uncorrelated to traditional investing markets over time".

As more people start to view Bitcoin as a store of value this could arguably gain popularity with the general public and, dare I say it, even boomers.

[dothebeats]

It's obvious that he'll say things along those lines. He's the founder of a cryptocurrency exchange after all. There's no reason for him to go against the very products and services that they offer. Sure, his stance on bitcoin might be vague or somewhat 'cloudy' back then, but for someone who has invested on a tech and not really believing on its potential is utterly nuts. They are now 'realizing' some of the benefits that bitcoin offers, but for sure they have already realized that bitcoin is a great money-maker as evidenced by his cryptoexchange.

Most people would also realize that bitcoin is the 'real-deal' when others are using it, and have made quite a lot from just having it. Even boomers would get enticed by the returns, that's for sure!

[Twinkledoe]

It's obvious that he'll say things along those lines. He's the founder of a cryptocurrency exchange after all. There's no reason for him to go against the very products and services that they offer. Sure, his stance on bitcoin might be vague or somewhat 'cloudy' back then, but for someone who has invested on a tech and not really believing on its potential is utterly nuts. They are now 'realizing' some of the benefits that bitcoin offers, but for sure they have already realized that bitcoin is a great money-maker as evidenced by his cryptoexchange.

Most people would also realize that bitcoin is the 'real-deal' when others are using it, and have made quite a lot from just having it. Even boomers would get enticed by the returns, that's for sure!

True! Because if he does not believe in the first place, why put up his own crypto business? It's been years that Abra is operating, so there's no surprise that finally he openly make a statement towards crypto. It will also attract more users to use his platform if he is visible to the public. So his move will actually bring some potential users on his platform.

[kemoglo]

It's obvious that he'll say things along those lines. He's the founder of a cryptocurrency exchange after all. There's no reason for him to go against the very products and services that they offer. Sure, his stance on bitcoin might be vague or somewhat 'cloudy' back then, but for someone who has invested on a tech and not really believing on its potential is utterly nuts. They are now 'realizing' some of the benefits that bitcoin offers, but for sure they have already realized that bitcoin is a great money-maker as evidenced by his cryptoexchange.

Most people would also realize that bitcoin is the 'real-deal' when others are using it, and have made quite a lot from just having it. Even boomers would get enticed by the returns, that's for sure!

Yeah, it might have been a stand he made before he even understood what he was working with, and having learned about the product itself he's maybe come to realize it's not as bad of a thing as he thought.

For OP, haven't you had a friend do a whole 180 about bitcoin once you've told them good things about it?  I know I have been able to convince a few people to try bitcoin for the first time, with realistic xepectations of course. Could be something similar to that.

[Kelvinid]

They'll find it right and sees Bitcoin become valuable in the market as the cashless payment system has been pushed in today's global situation.
They have the name and known to the public already, and citing these lines will actually fuel for growing market demand. They are likely to show and help the market as they also know that they can gain benefits from this.

They are in business institutions, they probably know what could be the best in their business. Adapting to the new system will give them away to become profitable. This is not a market sympathy but truly they know and realize that Bitcoin is a valuable asset in the market.

[ReiMomo]

Having initially been quite sceptical Bill Barhydt has now come out and proclaimed that he agrees on Bitcoin being a store of value by stating that "today Bitcoin is best used as a store of value that will become more and more uncorrelated to traditional investing markets over time".

As more people start to view Bitcoin as a store of value this could arguably gain popularity with the general public and, dare I say it, even boomers.

It's good if you also indicate the source of link where did you get this information and I think you are referring to this recent post of the telegraph. https://cointelegraph.com/news/abra-ceo-agrees-with-bitcoin-s-role-as-digital-gold

This is good news either, even though we had recently bad news regarding Twitter hacking that might lite give discredit to bitcoin reputation and for sure newly investors I guess will misinterpret this what happened now. I hope this will bring into masses and will boom bitcoin by next month. If we will check the market, the bitcoin dominance has been dropped for a while but now we have seen a small resistance.

[batang_bitcoin]

I see the same thing just like what CZ has been saying about bitcoin. Obviously, Abra is a crypto exchange app so the CEO should really like bitcoin and he could be one of the individuals that are holding not just hundreds but thousands of bitcoin, I have no idea how many he has.
I have never heard a CEO of a crypto exchange saying that bitcoin has no future. In the first place, they got in to crypto business because of what they've seen for bitcoin's potential.

[suzanne5223]

I see the same thing just like what CZ has been saying about bitcoin. Obviously, Abra is a crypto exchange app so the CEO should really like bitcoin and he could be one of the individuals that are holding not just hundreds but thousands of bitcoin, I have no idea how many he has.
I have never heard a CEO of a crypto exchange saying that bitcoin has no future. In the first place, they got in to crypto business because of what they've seen for bitcoin's potential.

It not every individual that's into bitcoin are in it for the potentials and i can assure 70% are into it for profit but the issue of Abra CEO caught by surprised but i have learnt acouple of years that people can go extra miles just to achieve their own purposes without thinking of the consequences or have affection for those that will be affected.
With that been said, we cant know the reason behind his negative statement about BTC but it clearly for selfishness purpose.

[posi]

Honestly,if you check or have read about Bill Barhydt background you'll understand that theres nothing to be surprised about the statement he made about bitcoin before and now. I mean someone who once work at the CIA as a cryptographer, also work for Gold Sachs and also punished for illegal swaps

[coupable]

Honestly,if you check or have read about Bill Barhydt background you'll understand that theres nothing to be surprised about the statement he made about bitcoin before and now.

Honestly, i can't see the importance of what Mr Bill have said before and now, and can just admit that he ignored many facts before to announce his opinion. A cryptographer can't really admit if something is a real store of value or not, this is the role of the economists.

[TravelMug]

I'm not surprised about it, of course he will say that because he is the founder of an exchange that is trying to make money here.

However, it seems that the US SEC has deemed that they are operating an "Unregistered Security-Based Swap Transactions".

https://www.sec.gov/news/press-release/2020-153

[Hypnosis00]

He's making way to generate money and expose abra in the crypto market to compete with others. It is a market strategy to catch attention.
https://cointelegraph.com/tags/abra.

What would likely to say that Abra needs more public exposure as the competition get stronger and to get benefit from this. Bill actually sees the possible huge market adoption at this time and that it needs to be recognized first. And that is why they have this https://cointelegraph.com/news/abra-garners-5-million-from-stellar-development-foundation in preparation for the incoming surge.

Bill is doing right and that it helps a lot as an open-eye for those who haven't know yet about crypto, about Bitcoin.

[btc_angela]

I see the same thing just like what CZ has been saying about bitcoin. Obviously, Abra is a crypto exchange app so the CEO should really like bitcoin and he could be one of the individuals that are holding not just hundreds but thousands of bitcoin, I have no idea how many he has.
I have never heard a CEO of a crypto exchange saying that bitcoin has no future. In the first place, they got in to crypto business because of what they've seen for bitcoin's potential.

Right, they will always says positive things about bitcoin because that is where their business evolves. So this is short of calling them shills for bitcoin, specially coming from a CEO. And not just Bill Barhydt, but you will hear a lot of high profile people very optimistic about it, but if you are going to check them out, they are hedge fund managers or have companies that deals directly with crypto so we shouldn't be surprised by this kind of statements.

[pooya87]

in other words he still doesn't understand bitcoin because bitcoin is a currency first and a store of value second. in other words it is a SOV because it is a currency. besides whenever CEO of whatever business that has something to do with cryptocurrencies keeps making a crappy statements like what this dude has been doing, their goal is just to get the name of their business in crappy news sites and be repeated in social media, like what you did here, and hope for some additional popularity and revenue that way.

[rodskee]

He's making way to generate money and expose abra in the crypto market to compete with others. It is a market strategy to catch attention.
https://cointelegraph.com/tags/abra.

What would likely to say that Abra needs more public exposure as the competition get stronger and to get benefit from this. Bill actually sees the possible huge market adoption at this time and that it needs to be recognized first. And that is why they have this https://cointelegraph.com/news/abra-garners-5-million-from-stellar-development-foundation in preparation for the incoming surge.

Bill is doing right and that it helps a lot as an open-eye for those who haven't know yet about crypto, about Bitcoin.

He needs to play well, as mentioned competitions are everywhere preparing  for
much better business is a must.
If he's now out and voicing his opinions, the company will reached those who are not
aware of it's existence.
Time to revealed what future for this investment assets will become in this coming
future.

[kryptqnick]

Having initially been quite sceptical Bill Barhydt has now come out and proclaimed that he agrees on Bitcoin being a store of value by stating that "today Bitcoin is best used as a store of value that will become more and more uncorrelated to traditional investing markets over time".

As more people start to view Bitcoin as a store of value this could arguably gain popularity with the general public and, dare I say it, even boomers.

This is all very uncertain. While Bitcoin doesn't always correlate with, say, S&P 500, there's been the highest level of correlation ever in 2020. As for Bitcoin being a store of value, it's clearly not a good one with the fall what happened in the middle of March. I mean, it recovered afterwards, but for people who want to keep their wealth safe it's probably too much stress. Oh, and stocks recovered as well, so that would mean that putting wealth into BTC would not have made sense in this situation. If this global economic crisis somehow brings the end to fiat, then Bitcoin would be a store of value worth considering, but for now it does not seem to be nearby.

[gentlemand]

Wasn't the original idea of Abra all about remittances primarily? If that is the case then in many countries with pisspoor currencies Bitcoin is a better bet than what they have locally, though most will still prefer the good old dollar if they could get their hands on it.

For elsewhere even among existing owners I doubt many feel that way. Many will be after dollars primarily too, ideally more than they put in in the first place.

[davis196]

Having initially been quite sceptical Bill Barhydt has now come out and proclaimed that he agrees on Bitcoin being a store of value by stating that "today Bitcoin is best used as a store of value that will become more and more uncorrelated to traditional investing markets over time".

As more people start to view Bitcoin as a store of value this could arguably gain popularity with the general public and, dare I say it, even boomers.

Who is Bill Barhydt and why should we care about his opinion regarding Bitcoin?
Any link to the interview,where he share his opinions?
I kinda disagree with his statement that Bitcoin "will become more uncorrelated to the traditional investing markets over time".There's no proof that this theory will actually happen.The 2020 stock and crypto markets were moving in the same directions following the corona crisis,which proves that,in times of a recession,Bitcoin can't be used as a safe heaven and there's a close direct correlation between all markets.
It's good to know that the power of Bitcoin is able to turn skeptics into believers,but those believers might turn again into skeptics after another big BTC price crash.

[posi]

Honestly,if you check or have read about Bill Barhydt background you'll understand that theres nothing to be surprised about the statement he made about bitcoin before and now.

Honestly, i can't see the importance of what Mr Bill have said before and now, and can just admit that he ignored many facts before to announce his opinion. A cryptographer can't really admit if something is a real store of value or not, this is the role of the economists.

What he said before is not important but what he just said now to correct his previous statement is very important because negative news can easily influence the newbies decision. However, the roles of the economists is know if something is a real store of value but ask yourself why did Bill he invest in bitcoin at early stage and why would a software developer/chief technology officer (CZ) no Bitcoin to be a store of value?

[adzino]

Having initially been quite sceptical Bill Barhydt has now come out and proclaimed that he agrees on Bitcoin being a store of value by stating that "today Bitcoin is best used as a store of value that will become more and more uncorrelated to traditional investing markets over time".

As more people start to view Bitcoin as a store of value this could arguably gain popularity with the general public and, dare I say it, even boomers.

He isn't wrong though. Bitcoin is more suitable to be used as a store of value rather than a regular currency that can be used for day to day transaction. At least for now. How weird would it be to wait for a like an hour for your cup of coffee just because the transaction isn't being confirmed. Or how about paying more in transaction fee than your regular coffee? Unless something new comes up that will significantly reduce transaction time and fees without compromising the main protocol of bitcoin, then it is better used as a store of value.