{"id":30698,"date":"2020-10-26T12:17:28","date_gmt":"2020-10-26T10:17:28","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=30698"},"modified":"2025-08-27T23:37:42","modified_gmt":"2025-08-27T20:37:42","slug":"abra-wallet-ceo-shifts-half-of-personal-savings-into-bitcoin","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/abra-wallet-ceo-shifts-half-of-personal-savings-into-bitcoin\/","title":{"rendered":"Abra Wallet CEO shifts half of personal savings into Bitcoin"},"content":{"rendered":"<p>The CEO of the Abra wallet provider, Bill Barhydt, said that Bitcoin accounts for 50% of the value of his investment portfolio.<!--more--><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">A few weeks ago, I increased my ownership of <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a>\u2019s FUNDAMENTALS<\/p>\n<p>Watch this video to find out why (and read on\u2026) (1)<a href=\"https:\/\/t.co\/YSj6dAXjDT\">https:\/\/t.co\/YSj6dAXjDT<\/a><\/p>\n<p>\u2014 Bill Barhydt (@billbarhydt) <a href=\"https:\/\/twitter.com\/billbarhydt\/status\/1319690483367510016?ref_src=twsrc%5Etfw\">October 23, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>He outlined fundamental, technical, and psychological reasons that influenced his belief that the first cryptocurrency is the best asset in the world today.<\/p>\n<p>The first group includes: a capped supply, a significant degree of decentralization, the stock-to-flow model, and forthcoming <a href=\"https:\/\/forklog.com\/en\/news\/schnorr-signatures-and-taproot-integrated-into-bitcoin-core\">privacy enhancements<\/a>.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">First reason for my increased bullishness is an old reason and that is <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a>\u2019s FUNDAMENTALS<\/p>\n<p>21 million cap, highly decentralized, infinite stock to flow, better privacy features coming. (3)<\/p>\n<p>\u2014 Bill Barhydt (@billbarhydt) <a href=\"https:\/\/twitter.com\/billbarhydt\/status\/1319690698631774208?ref_src=twsrc%5Etfw\">October 23, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>On a monthly logarithmic chart, Barhydt sees the price trajectory toward $1 million BTC by the end of 2022.<\/p>\n<p>According to the Abra CEO, the price rise after the third halving mirrors the behavior of a previous crypto history episode. He remains convinced of the axiom of technical analysis \u2014 \u201chistory repeats itself\u201d.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p dir=\"ltr\" lang=\"en\">Second reason is <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a>\u2019s TECHNICALS. One, look at the monthly log chart with regression via Real Vision, headed towards $1mil BTC! Two, the current price run up post halving seems to be mirroring the last. Short + Long term bullish. History leaves BIG clues. (4) <a href=\"https:\/\/t.co\/dAEhf1eVjj\">pic.twitter.com\/dAEhf1eVjj<\/a><\/p>\n<p>\u2014 Bill Barhydt (@billbarhydt) <a href=\"https:\/\/twitter.com\/billbarhydt\/status\/1319691074059694080?ref_src=twsrc%5Etfw\">October 23, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The third set of arguments in favor of the first cryptocurrency is based on market psychology. He cites a Google Trends chart of search queries for the word \u201cBitcoin,\u201d the number of which has fallen fourfold over the past two years. In <a href=\"https:\/\/www.investopedia.com\/terms\/c\/contrarian.asp\" target=\"_blank\" rel=\"noopener noreferrer\">\u0441\u0442\u0440\u0430\u0442\u0435\u0433\u0438\u0438 \u0438\u0433\u0440\u044b \u043f\u0440\u043e\u0442\u0438\u0432 \u0442\u043e\u043b\u043f\u044b<\/a> this can be read as a bullish signal.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p dir=\"ltr\" lang=\"en\">Third reason is market SENTIMENT for <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a><\/p>\n<p>Contrarian thinking tells us if everyone is off the bus and fundamentals\/technicals are good it\u2019s time to get on the bus!<\/p>\n<p>This 2 year google chart tells us people aren\u2019t (yet) paying attention to Bitcoin. That is bullish!! (5) <a href=\"https:\/\/t.co\/DOMlGMC7Av\">pic.twitter.com\/DOMlGMC7Av<\/a><\/p>\n<p>\u2014 Bill Barhydt (@billbarhydt) <a href=\"https:\/\/twitter.com\/billbarhydt\/status\/1319691424179187712?ref_src=twsrc%5Etfw\">October 23, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>As reported in August, Kraken analysts <a href=\"https:\/\/forklog.com\/en\/news\/kraken-forecasts-bitcoin-rally-of-up-to-200-in-coming-months\">predicted<\/a> a Bitcoin price rise of 50-200% in the coming months. At that time, the first cryptocurrency was valued at $11,500.<\/p>\n<p>Recently, the Gemini crypto exchange founders, the Winklevoss brothers, <a href=\"https:\/\/forklog.com\/en\/news\/winklevoss-brothers-500000-per-bitcoin-is-only-a-matter-of-time\">confirmed<\/a> their previous forecast for Bitcoin to reach $500,000.<\/p>\n<p>Subscribe to ForkLog news on <a href=\"https:\/\/vk.com\/forklogcom\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">VK<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Abra Wallet CEO Bill Barhydt said that Bitcoin accounts for 50% of the value of his investment portfolio.<\/p>\n","protected":false},"author":1,"featured_media":30699,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[863,18,1138],"class_list":["post-30698","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-abra","tag-bitcoin","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"17","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/30698","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=30698"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/30698\/revisions"}],"predecessor-version":[{"id":30700,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/30698\/revisions\/30700"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/30699"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=30698"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=30698"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=30698"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}