Bill Barhydt, founder and CEO of Abra, said he sees Bitcoin (BTC) as a store of value that is increasingly diverging from mainstream market price correlation.
Bill Barhydt thinks that the current trend in Bitcoin has turned it into a store of value comparable to gold.
"Today, Bitcoin is being used as a store of value that will become more unrelated to traditional investment markets over time," Barhydt said in an interview with Cointelegraph.
After Bitcoin's debut in 2009, the asset's price increased from less than $ 1 to $ 20,000 in 2017. In this process, metrics such as PlanB's stock-flow model for Bitcoin were created.
Bitcoin started to be referred to as "digital gold" in some circles after its price increased significantly.
Barhydt found "Bitcoin as" digital gold ", making it the best analogy I've ever seen."
BITCOIN'S RELATION WITH THE MAIN CURRENT MARKETS
Bitcoin, in theory, is unlimited from government control, so the leading crypto money has no direct connection to the general financial markets. However, BTC is highly correlated with some assets in traditional markets.
"For the first time, we have a storage and transaction system without a central closure key," Barhydt said, describing Bitcoin as the best showcase ever for global decentralization.
