In a recent interview/discussion with Bill Barhydt, the CEO of Abra, Tim and Adam Draper, the Father-Son Venture Capitalists, discussed their experiences with Bitcoin [BTC] and where it was heading for.
In the interview, Adam Draper indicated that the concept of Lightning Network and OpenNode would eventually play key roles in the future adoption of Bitcoin.
Tim Draper, who recently invested in OpenNode, believed that the technology would make the lives of retailers easy by easing the Bitcoins [BTC] adoption. He believed that once it became a common thing, the expansion of Bitcoin [BTC] would be massive.
Time Draper added,
“They’re going to make it very easy for anybody to move money anyway through bitcoin. I think it’s going to really have an impact on bitcoin.“
Bill Barhydt went on to applaud Bitcoin’s [BTC] current valuation and stated that it was possible to measure Bitcoin’s relative weighting versus global GDP. The fact that Bitcoin did not exist 10 years ago gave the aforementioned fact a great bit of significance and indicated that Bitcoin might be on its way up rather than down.
Bill Barhydt also added that Bitcoin should not longer be termed as a commodity. He stated,
“When you think about it, bitcoin is not a commodity. It’s a computer program that actually generates other computer programs. That’s how you move bitcoin, you actually create small bitcoin scripts they’re called. That’s a computer program. Why are we calling that a commodity? That’s insane.“
Interestingly, it was revealed in the interview that Tim Draper and Adam Draper, who are major Bitcoin proponents, actually invested in Bitcoin companies before acquiring Bitcoin. Adam Draper was one of the initial major investors in the Brian Armstrong led-Coinbase and Tim Draper invested in CoinLabs.
The post Bitcoin [BTC] relative weighting can be measured against Global GDP, claims Bill Barhydt appeared first on AMBCrypto.