Currently, the top-ranked digital currency Bitcoin (BTC) is not showing a satisfying performance and is trapped in a consolidation zone. Where Bitcoin is trying for a breakthrough, the Chief Executive Officer (CEO) of the digital cash payment app Abra Bill Barhydt has said in a tweet on October 2, 2020, that he is planning on increasing his exposure of the leading digital currency Bitcoin (BTC).In the tweet, he said that he intends to double his exposure to Bitcoin to almost 25 percent.
Thoughts on Bitcoin Allocation
The CEO of Abra has shared his plans in a tweet recently saying that he is thinking about allocating more Bitcoin to his portfolio. He said that he wants to double his allocation of Bitcoin to twenty-five percent. He asked for the opinions of others whether this is a good idea to double the allocation of Bitcoin or this allocation is high.
Furthermore, he said that he consulted with hedge fund experts who said that stock market returns are likely going to get “muted” over the course of the next 5 years. And this will further boost the demands for other assets such as the top-ranked digital currency Bitcoin (BTC) and the safe-haven asset Gold (XAU). And these assets then may result in potential returns.
While replying to the tweet of Abra CEO, a twitter user named Lord Ashdrake said that it is risky to have 25 percent of your allocation reserved in digital currency. The Twitter user said:
“25% Crypto allocation is high risk but more upside than downside 25% BTC allocation is all eggs in 1 basket which might be somewhat risky.”
Not only the Abra CEO is increasing his BTC exposure there are many of them in the cryptocurrency space who have potential exposure to the leading digital currency.
Goldman Sachs former head of hedge fund sales as well as the Chief Executive Officer (CEO) of Real Vision Raoul Pal also revealed in podcast that his net worth includes almost fifty percent of Bitcoin (BTC).