‘All Hell Will Break Loose’: Abra CEO Predicts Bitcoin Price Boom Will Return This Year
Abra CEO Bill Barhydt believes that another rally is just around the corner.
Barhydt, who once designed trading systems for Goldman Sachs, told Business Insider that hedge funds and other institutions are beginning to see cryptoassets as a “huge opportunity” and that “all hell will break loose” once they begin investing in those markets. “I talk to hedge funds, high net worth individuals, even commodity speculators. They look at the volatility in the crypto markets and they see it as a huge opportunity. Once that happens, all hell will break loose,” he said. “Once the floodgates are opened, they’re opened.” He also said that institutional interest is already starting to tick up in Japan, which according to him is a leading indicator of what will soon happen in the West — regardless of retail interest, which has seen a sharp decline in recent months.