The CEO of Abra, Bill Barhydt, announced on Twitter that he is considering doubling the allocation of Bitcoin (BTC) in his personal portfolio. This comes after several weeks in which Bitcoin has been traded between $10,000 and $11,000.
Large investors and cryptocurrency figures are thinking about increasing their exposure to Bitcoin. This is the case of Mr. Barhydt that announced on Twitter he is planning to increase by 100% his allocation of Bitcoin in his personal portfolio.
The main reason behind this decision is due to the acceleration of currency inflation. He stated that given the acceleration of currency inflation and price inflation to follow, it seemed better to increase his Bitcoin allocation to 25%.
On the matter, he wrote on Twitter:
“I’m considering doubling the allocation of #Bitcoin in my personal portfolio to 25%. Is this a good idea or is this allocation too high? Given the acceleration of currency inflation and the likely price inflation to follow this seems like a better weighting than my current 12%.”
It is worth taking into consideration that hedge fund experts are telling that stock market returns are likely “to be muted” in the next five years. Of course, Bill Barhydt’s decision has been celebrated by a large number of users that support Bitcoin and the cryptocurrency market.