Bitcoin Will Be Shadow Central Bank: When Fiat Fails, It'll Be Overnight – Bill Barhydt
Michelle Makori, Lead Anchor and Editor-in-Chief at Kitco News, interviews Bill Barhydt, Founder and CEO of Abra, who says that Bitcoin will become the shadow central bank, as the fiat system fails. Barhydt sees more sovereign nations and companies holding Bitcoin as a reserve asset. He warns that 50-75 non-U.S.-dollar-backed or non-euro-backed currencies will fail in the next 25 years. “With international currencies backed by nothing, it's a ticking time bomb,” he tells Kitco News on the sidelines of Consensus 2024 in Austin, Texas. Barhydt adds that once the fiat system begins to collapse, it could happen overnight.
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00:00 Coming Up
00:44 Intro: Roles of Bitcoin, Ethereum & Solana in the Future of Finance
02:18 Bitcoin
08:42 Adoption
12:39 Bitcoin and the Future of Global Currencies
27:46 Public Companies & Bitcoin Holdings
31:11 Sovereign Nations and Bitcoin
32:04 Currency Failures
38:40 Stablecoins
41:34 Ether & Tokenization of Traditional Finance
47:31 Solana & Retail Transactions
56:46 Abra’s Role in the Crypto Market
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