Cryptocurrency exchange Abra CEO Bill Barhydt announced that 50% of all his investments are now in Bitcoin. He explained that his BTC investment is a great opportunity for financial freedom.
Barhydt’s investment revelation came up right after the historic week where Bitcoin recorded about $13,200 an all-time high price. As many look at BTC as a potential investment, He believes that there are three reasons behind its success story. These are the fundamentals, technicals, and sentiment.
For the first reason, Barhydt said that he considered bitcoin based on its 21 million total supply, its decentralized features, and privacy. He also explained that the technicals that back bitcoin are heavily strong. Meanwhile, the increased adoption of the coin would be seen as the sentiments around its growth.
Lastly, he explained that “contrarian thinking” teaches that if the asset satisfies the first two reasons and people are still “not on the bus”, then it is high time to “get on the bus”.
The bottom line is that Bitcoin is the single best investment opportunity in the world today and the best hedge against what’s coming.
Meanwhile, Bitcoin has finally broken past the $12,000 psychological resistance level. This has been the main obstacle that many have observed to be hampering Bitcoin’s bull run for months now. With this, Bitcoin is poised to reach even higher in the coming days and months. At the time of writing, Bitcoin is trading at $12,977.34, according to CoinGecko.