U.S. Bitcoin Adoption

Will U.S. Bitcoin Adoption Push BTC Price to 20k?

All eyes are on Bitcoin as the U.S. authorities continue to facilitate the digital asset adoption according to Bill Barhdt, the CEO at Abra. In a candid conversation with Antony Pompliano, the Morgan Creek co-founder, Barhdt says that while the U.S government is trying to boost its economy the dollar faces depreciation and increased inflation and adds that:

 "I think this is a turning point for Bitcoin as a new asset class."

The Trump administration appears clueless on what it is doing to potential investors. It is unknowing giving the investors room to dump the dollar and seek better means of settlement and Bitcoin perfectly fills the gap.

Concerns over Dollar Depreciation

Over the years, the dollar has shed 99 percent of its value. This gives room for Bitcoin to thrive. The Abra CEO sees a huge opportunity not only for Bitcoin but other altcoins to thrive. If this happens, the dollar dominance with sky dive allowing crypto to take its position.

Barhdt argues that BTC supply is limited and this offers the investor the best value proposition. A limited supply gives the digital asset the upper hand among other asset classes. This is tempting more investors into staking to safeguard their capital.

Barhdt is not alone; Billionaire Mike Novograts see 2020 as the Bitcoin year. He believes that the digital asset will see history repeat itself and hit a high of $20,000. More investors ae crypto aware and the current interest and adoption will see BTC dominate and surpass the dollar.

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