Cryptocurrency exchange Abra CEO, Bill Barhydt recently delivered a talk on the potential of Bitcoin (BTC), in a recently held Bitcoin conference. Bill spoke at length about the history of fiat currencies and several failures associated with them. He primarily focused on the BTC potential that can help to attain great success in the years to come.
Bill Barhydt during his talk drew an analogy to the invention of the internet with that of the blockchain technology and Bitcoin. He commented that digital advancements may drastically change the face of many business sectors in the near future or it may erase a lot of business sectors such as payments, banking, lending, remittances, foreign exchange and investing. He cited the examples of businesses such as magazines, bookstores, video rental stores, travel agents and newspapers that have either transformed or became obsolete after the arrival of the internet.
Cryptocurrency exchange Abra’s CEO then went on to point out that the asset class, Bitcoin did not exist a decade ago. He then mentioned that the most remarkable aspect of Bitcoin is its fungibility, despite the present market volatility of the coin with fiat markets.
The finance expert also highlighted the three most significant applications of Bitcoin. These include cross-border payments, consumer asset financing and decentralized investing. He then touched upon the subject of remittances and mentioned that blockchain and Bitcoin will change the way the fintech sector functions. According to him, the overall perspective on money transfer will change as the service will be practically free and instant, as stated in the AMBCrypto report.
Bill Barhydt, the Abra cryptocurrency CEO, had made a notable prediction earlier in July this year when he said that Bitcoin will soon be worth $50,000. Compared to several other bullish predictions that have been at their ambitious best, this figure seems more feasible. However, Bill is not the first crypto expert to suggest the imminent rise of Bitcoin. Arthur Hayes, the BitMEX exchange CEO also shared a similar quote during one of his recent interviews. However, Arthur’s prediction was met with a lot of criticism across the crypto industry, as stated in the Bitcoin Exchange Guide report.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]