The CEO of crypto wealth management platform Abra thinks the largest bank in the world in 20 years will be a “crypto bank.”
Bill Barhydt says in a new conversation with Anthony Scaramucci at Salt New York that the future biggest banks will either be the incumbent institutions who adapt to cryptos, or they will be replacement upstarts.
[adinserter block="1"]“Look, I think that we’re in this mode where it’s going to be extremely difficult over the next few years to generate real returns. Let’s put that aside for a second though. I think that we’re going to see a bifurcation. Everybody calls it… the crypto space, but I think it’s actually more than that.”
He calls Bitcoin (BTC) a “relatively stable” store of wealth, but notes that it’s not actually that stable in comparison to the US dollar right now.
“The reality is the dollar is really strong right now. But that’s about to — in my opinion — reverse in a massive way. [The] Fed can’t sustain what they’re doing, right? And so I think everybody accepts the fact that we’ve got to get back to dramatically lower interest rates, which means falling dollar, which means asset prices are probably going to skyrocket again, which means crypto is going to get an outsized benefit from that versus traditional risk-on assets.”
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