Investor Bill Barhydt Critiques Michael Saylor’s Bitcoin Wallet Strategy
Bill Barhydt, CEO of Abra and early Bitcoin adopter, criticized Michael Saylor’s plan to lock his personal bitcoin holdings in an “unsendable wallet.”
Key points from Barhydt's critique include:
- Saylor's strategy might reduce total supply and potentially increase remaining coins' value.
- Barhydt argues the Bitcoin community does not need this "gift."
- He suggests Saylor could fund educational services or develop remittance operations instead.
- Barhydt emphasized promoting understanding of Bitcoin rather than focusing solely on increasing its value.
- He disagrees with Saylor’s comparison to Satoshi Nakamoto, stating that Saylor is not viewed as a benevolent figure for Bitcoin.
Barhydt's background includes experience at Goldman Sachs and being the first to deliver a TED Talk on Bitcoin. He believes supporting educational initiatives would expand Bitcoin's user base and benefits.