Abra CEO Bill Barhydt’s Simple Theory for What Caused 2017’s Bitcoin Boom

Bill Barhydt is the CEO of Abra, which is a “crypto bank” built on a system of Bitcoin and Litecoin smart contracts that allows users to hold pretty much any fiat currency as digital cash on their smartphones.

 

In a recent, wide-ranging interview with angel investor Jason Calacanis on This Week in Startups, Barhydt was asked for his opinion on 2017’s cryptoasset frenzy. In his response, the Abra CEO touched on the importance of government approval of bitcoin in Japan and the hysteria in the initial coin offering (ICO) market.

FOMO Rooted in Japan

In Barhydt’s view, the hysteria around bitcoin and other cryptoassets in 2017 was kicked off by the Japanese government’s approval of this new technology.

 

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