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

[Charles-Tim]

Few days ago created a topic about how bitcoin has been the complete version of money,
https://bitcointalk.org/index.php?topic=5284117.msg55442126#msg55442126

One of the reasons bitcoin is the complete version of money is because bitcoin is an appreciative asset, unlike fiats which are vulnerable to governmental manipulations which makes its value depreciating and makes fiats to be a depreciative assets by nature. Today, is a news on cointelegraph about the co-founder and CEO of major cryptocurrency company Abra who 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.

The executive said that Bitcoin’s 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 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.”


Abra's CEO purportedly increased his holdings prior to Bitcoin touching new 2020 highs.
https://cointelegraph.com/news/abra-ceo-s-portfolio-is-50-bitcoin-as-cash-is-becoming-worthless
https://mobile.twitter.com/billbarhydt/status/1319690483367510016?s=20

[jackg]

I've seen this happening a lot with ceos. I'm fairly sure one bought in with 50% and a few million dollars around the 2014-2015 mark but can't be certain.

Also I'm guessing this means the US doesn't actually have a deflationary money supply on top of its inflationary one which is why a lot of people are moving to bitcoin to fill the gap.

[Fundamentals Of]

Whether what this man is saying is true or not, he should be bullish on Bitcoin. He has been a fan and has developed a popular cryptocurrency app. The rise of Bitcoin could mean Abra becoming more popular.

By the way, what is your argument in saying that Bitcoin is a complete version of money because it is an appreciative asset? Are we not going to factor in the possibility that spending would be reduced to the minimum if money is rising in value?

[BrewMaster]

they have been buying bitcoin for a long time now. specifically speaking they were buying bitcoin when the price had fallen and was at a stable state at the bottom. for example the $6k that we recently had or the $3k of a year ago.
nowadays that price is rising and we are in a bull market, the news of it keeps coming out on these news sites that only go wherever the wind blows!

[avikz]

"Cash is becoming worthless" -  is a very strong statement! We are very little compared to the traditional finances in almost all parameters. Be it volume, usability, acceptance and so on...

I am sure Abra CEO has seen a great potential in bitcoin and hence he had invested 50% of his portfolio into bitcoin. But that doesn't make traditional finances look bad. We are seeing demand in the market and hence bitcoin's value is appreciating. It's a normal demand supply rule! That doesn't make cash worthless!

[Charles-Tim]

"Cash is becoming worthless" -  is a very strong statement! We are very little compared to the traditional finances in almost all parameters. Be it volume, usability, acceptance and so on...

If I use my country fiat as an example, it is even more depreciative, I remeber when I was small and also in history when my country gain independence, our legal gender was equals to pounds and higher in price than a dollar, later on, my country fiat becoming decreasing in value, and worth nothing to dollar now. This type of issue is common in many countries of the world, especially in Africa. That is why many Africans that knows about bitcoin and other cryptocurrencies like ether and litecoin are seen cryptocurrencies  as a safe haven. Instead of having their funds in their country depreciating fiats, they prefer bitcoin which is appreciative, but only convert bitcoin to fiat during when they want to spend.

[DeathAngel]

Every exec that publicly declares his positive interest in bitcoin is a win for us. When the FOMO starts during the bull run peak next year it’ll be something amazing. Every time a public figure speaks well about bitcoin it creates more average joe’s being interested.

[JakobFugger]

Only I think this percentage is small? ABra is a company that works with Bitcoin and Crypto. The CEO is expected to have a high amount, especially with this price hike. In fact, I find it strange that he still has this large amount of cash in his hands.

[Lanatsa]

Only I think this percentage is small? ABra is a company that works with Bitcoin and Crypto. The CEO is expected to have a high amount, especially with this price hike. In fact, I find it strange that he still has this large amount of cash in his hands.

You do expect for some 100% transition from fiat to Bitcoin? that's a sureball bullish move to be made but of course hesitance and doubts will be still there but at least he do consider on putting
50% but doesn't mean that everybody would go to the same path.

We do have our own views and sentiments and saying cash is becoming worthless? I don't think for this thing to happen.It will surely exist no matter what as long
do government exist.

Theres no safe side about bitcoin investment just like somebody been saying.If we can took up the risk then its our choice but nothing is assured in upcoming years
to come.

[jackg]

Whether what this man is saying is true or not, he should be bullish on Bitcoin. He has been a fan and has developed a popular cryptocurrency app. The rise of Bitcoin could mean Abra becoming more popular.

It assymptotes towards 0 anyway. £1 700 years ago was worth £400 in today's money afaik.

Only I think this percentage is small? ABra is a company that works with Bitcoin and Crypto. The CEO is expected to have a high amount, especially with this price hike. In fact, I find it strange that he still has this large amount of cash in his hands.

The rest would probably be in stocks nd stuff thst returns a dividend though? He's still got to make some sort of money and no one should rely fully on bitcoin. Especially at the least because we'll have a lot of headlines about bitcoin investors going bankrupt.

When the FOMO starts during the bull run peak next year it’ll be something amazing.

It could be up to two years for the bull run (I want to clarify that just in case). I was one of the people who thought it would be next gesf, but if we go with the 4 heard theory I think it'll be more like April 2021.

But yeah the FOMO alone will be interesting for when we exceed a trillion in market cap and with all the companies and ceos buying in now...

[dothebeats]

Not really surprised given that Abra is actually a crypto company dealing with exchanges and services concerning bitcoin and crypto. Even if the CEO tells the truth or not, I'm sure they have a substantial amount of bitcoin holdings on their plate and will still be compelled to release such a statement in order to get more and more people's attention on the matter. While I do not completely agree that 'cash is completely worthless' due to some facets of the economy still completely reliant with it, I somewhat agree on the notion that building up a bitcoin stash is still good for the future. Always has been, always will be, as was proven to us by bitcoin for the last 10 years.

[erikoy]

Well that his choice but you know what it may have been advantage to hold bitcoin because you can earn.

But here is some point,

You earn in bitcoin because you buy cheap and then others buy it expensive. Once you sold your bitcoin you will earn but the other will make losses.

Newcomers will tend to lose money when investing in bitcoin while existing investors will going to earn more.

Huge bitcoin holders or the rich people will become richer while poor people could become more poorer because rich people could earn more while poor people could be less fortunate.

You see earning in bitcoin is possible but it means that others are losing their money too in the process and what is good in that point?

[Rengga Jati]

His decision to buy BTC before the current uptrend was a very good ad exact decision. Moreover, he has his certainty ad also trust In BTC. Whatever it is, if we have trust in something based on the knowledge, research, and also experience, we will decide something bravely, correctly the right moment. As what he did to fill his 50% with BTC

The executive said that Bitcoin’s 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. “

Moreover, when there are many more people who are aware of BTC ad get more demand o the market, the price of BTC can rise up significantly again. It will make another Bullrun.
If there are many more people like him who make more demand for BTC, will the price of BTC ca reach ATH much easier adj earlier again?

[franky1]

big CEO's will never publicise what they are going to invest in. because they know the publicity can cause an up in the price.
its the same as auctions. never raise your hand early and shout out how much you want a thing. because then others will try to outbid you.

CEO's only publicise their investments once they have already bought in and are hoping for the publicity price bump so they can profit on the sell out. they will never shoot themselves in the foot.

its like Peter schiff. he says how bitcoin is bad but people should buy gold off of him.. why. because he wants to sell his gold.

peter schiff pretends to only love gold. but the reality is every single week for the last few years he has been mentioning crypto and turning it into an excuse of why people should buy his gold.
translating it. he wants to sell his gold to people that have crypto.. .. think about that

when CEO's are heavily promoting bitcoin they are ready to exit. when they are negative about bitcoin, they want to get in.

CEO knows they have influencial power on thousands of investors so they play pump and dump games with their influence. yep thats how the world works.

same as governments. when they want you to go out and spend spend spend. what you really should be doing is staying in and save save save. you will need that money later on. there is reason they want you to spend. and those reasons are not in your best interest

[lovesmayfamilis]

Today, more and more corporations are leaning towards bitcoin as a reserve asset. And Bill Barhydt has a reputation for being a bitcoin bull, and it's no surprise that he's been very optimistic about bitcoin's future for quite some time.
But besides this, we see how many large companies that specialize in asset management are gradually investing in bitcoin.
For instance:
https://www.bloomberg.com/news/articles/2020-08-26/fidelity-launches-inaugural-bitcoin-fund-for-wealthy-investors
https://www.forbes.com/sites/michaeldelcastillo/2020/10/13/stone-ridge-reveals-115-million-bitcoin-investment-as-part-of-billion-dollar-spin-off/#735bc20f9850
https://www.forbes.com/sites/michaeldelcastillo/2020/10/13/stone-ridge-reveals-115-million-bitcoin-investment-as-part-of-billion-dollar-spin-off/#735bc20f9850


This all speaks of very good prerequisites for the further development of bitcoin.