What Bitcoin Did

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$50k Bitcoin, What’s Next? With Bill Barhydt

Peter McCormack

Interview | Description | Timestamps | Show Notes

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$50k Bitcoin, What’s Next? With Bill Barhydt - WBD312 Peter McCormack

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Location: Remotely
Date: Thursday 18th Feb
Company: Abra
Role: Founder & CEO

In the last week, bitcoin broke $50,000 for the first time, a significant milestone, helped by corporate adoption. Tesla’s $1.5bn bitcoin buy was a watershed moment. Still, it would likely not have happened without MicroStrategy, who themselves announced this week that they would be raising another $900 million to acquire more bitcoin.

Using Bitcoin as a corporate treasury asset is only expected to grow, with some bitcoiners suggesting that as many as half the S&P500 will hold bitcoin in their balance sheet before the end of 2021.

The next logical step after corporate adoption of Bitcoin is the nation-state. With India looking to ban Bitcoin, it is clear there is still a large amount of scepticism from nation-states. However, the first country to embrace Bitcoin will likely see the same benefits as MicroStrategy did.

In this interview, I talk to Bill Barhydt, the CEO and Founder of Abra. We discuss what $50k bitcoin means, increasing corporate adoption and which nation-state will be the first to embrace Bitcoin.

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00:04:52: Introductions
00:07:34: Death by 1,000 cuts
00:10:34: The three kinds of Bitcoin game players
00:13:30: Getting through the drawdowns
00:15:23: Saving pushes towards a supercycle
00:22:21: Who are Abra's customers
00:26:09: Where will be the MicroStrategy of nation states…
00:28:33: …Africa?
00:30:10: …India?
00:39:45: Governments holding confiscated Bitcoin
00:43:03: Nigeria
00:45:30: Retaining sovereign money through the transition
00:47:26: Libra and David Marcus
00:51:36: Formula 1!
00:52:45: Michael Saylor's rate of borrowing
00:56:09: Borrowing and Lending, and Abra's products
01:02:50: TransferWise
01:06:31: Bank insurance
01:09:22: Bill's price prediction
01:13:00: Final comments

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