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US government promotes the adoption of bitcoin

adoption of bitcoin

Bill Barhydt, CEO of renowned company Abra has said that the US government promotes the full scale adoption of Bitcoin.

Giving  his full statement in an interview, Bill said that the framework provided by the government would go a long way to help the adoption of Bitcoin.

In his interview with Anthony Pompliano, he said that with the government pumping money into the economy, it leads to dollar depreciation which is good for Bitcoin.

I think this is the much-needed boost for Bitcoin as a digital asset.

The American high profile individual has inadvertently encouraged the population to dump the dollar for digital assets.

Abra CEO says dollar declining will increase adoption of Bitcoin

Bill Barhydt said that even though the population do not see it, he has noticed that the dollar has gone down about 99% for the past ten years.

Furthermore, he said that if things continue this way, Bitcoin could take advantage of this opportunity and the whole digital asset market could make an appreciation against the dollar.

The CEO also said that Bitcoin limited supply is a vital instrument that will woo investors that want to preserve their cash. With the policies enacted which will favour crypto, especially the adoption of Bitcoin, the dollar could well go under in no distant time.

Experts have said Bitcoin could go well over $20,000

Other experts in the digital assets community have given their backing to what Bill Barhydt said in his interview. A typical example is Mike Novogratz, who has said Bitcoin could repeat a trend that it underwent three years ago and upset the makers. 

He further noted that Bitcoin could well place over $20,000 with the influx of high game players. With the policy encouraging adoption of Bitcoin in America, more high game players could make their entrance into the market, which might see the price of the leading digital asset skyrocket.

Kamsi King

Kamsi King

King Kamsi is a fintech and digital currency writer and enthusiast. He is keenly interested in blockchain and cryptocurrency and their global adoption. When not busy with writing, he can be found hobnobbing in forums with the best minds in crypto, both developers and startup founders.

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