Bill Barhydt, CEO of digital asset services company Abra, has publicly championed the integration of Bitcoin into corporate treasury strategies. In a recent social media post, Barhydt stated, "I am pro BTC Treasury companies. All companies should be looking at adding BTC imo." He emphasized that while "obviously not risk free," the "beneffits, if done right, far exceed the downside," underscoring a growing trend among businesses considering digital assets for their balance sheets.
Abra, founded by Barhydt in 2014, launched its dedicated Abra Treasury service in July 2024. This offering provides comprehensive digital asset treasury management solutions, including custody, trading, borrowing, and yield services for corporates, family offices, and non-profits. The company has observed increasing interest from non-crypto-native businesses, particularly small to medium-sized enterprises and real estate firms, seeking to acquire Bitcoin for their treasuries or leverage it for financing needs.
Barhydt's advocacy stems from a belief that Bitcoin can significantly enhance corporate value. He predicts that many mid-cap companies and non-profits with substantial cash reserves will follow the precedent set by firms like MicroStrategy, converting their holdings into Bitcoin. This shift, he suggests, could lead to "significant increases in their stock value" as their discounted cash is revalued, and he foresees a future where crypto replaces traditional asset allocations like the 60/40 portfolio.
The Abra CEO's optimism extends to Bitcoin's price trajectory, with Barhydt projecting the cryptocurrency could reach as high as $700,000 in the current market cycle. He attributes this potential surge to anticipated U.S. fiscal strategies, including efforts to lower interest rates and refinance over $7 trillion in national debt. Such measures are expected to substantially increase the money supply, providing a liquidity boost that would benefit cryptocurrencies.
While championing Bitcoin's corporate integration, Abra has also navigated regulatory challenges. In July 2024, the company settled with 25 state financial regulators for operating its mobile application without proper licenses, according to an announcement from the Conference of State Bank Supervisors (CSBS). As part of the settlement, Abra pledged to cease accepting crypto deposits from U.S.-based Abra Trade customers, highlighting the evolving and complex regulatory landscape surrounding digital asset services.