Michelle Makori, Lead Anchor and Editor-in-Chief at Kitco Information, interviews Invoice Barhydt, Founder and CEO of Abra, who says that Bitcoin will turn out to be the shadow central financial institution, because the fiat system fails. Barhydt sees extra sovereign nations and corporations holding Bitcoin as a reserve asset. He warns that 50-75 non-U.S.-dollar-backed or non-euro-backed currencies will fail within the subsequent 25 years. “With worldwide currencies backed by nothing, it is a ticking time bomb,” he tells Kitco Information on the sidelines of Consensus 2024 in Austin, Texas. Barhydt provides that when the fiat system begins to break down, it might occur in a single day.
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00:00 Coming Up
00:44 Intro: Roles of Bitcoin, Ethereum & Solana within the Way forward for Finance
02:18 Bitcoin
08:42 Adoption
12:39 Bitcoin and the Way forward for World Currencies
27:46 Public Firms & Bitcoin Holdings
31:11 Sovereign Nations and Bitcoin
32:04 Foreign money Failures
38:40 Stablecoins
41:34 Ether & Tokenization of Conventional Finance
47:31 Solana & Retail Transactions
56:46 Abra’s Function within the Crypto Market
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