[ad_1]
In the letter
- Raoul Pal has invested around 75% of its liquid assets in Bitcoin.
- He also invested in Ethereum.
- Since retiring at the age of 36, Pal has co-founded Real Vision, which commands over 10,000 subscribers.
Former hedge fund manager Raoul Pal has invested heavily in Bitcoin and Ethereum, according to a tweet sent today.
Pal is a former Goldman Sachs trader who retired from a successful career in hedge fund management at the young age of 36. Since then, he has co-founded Real Vision for democratize access to financial information. With over 10,000 subscribers and 100 countries, Pal’s views attract a lot of attention, and with that burgeoning platform, he made a pretty big statement by investing 75% of his liquid assets in Bitcoin.
“Let’s say I’m wrong … I can get my money back by earning an income, running a business, it puts me under financial pressure, no, so I can afford to take the risk. So, even if I call it irresponsibly long, it’s not much irresponsible, “Pal said.
Indeed, Pal’s outlook on Bitcoin is extremely optimistic.
“It’s a once in a lifetime opportunity given to us – we can handle a wall of money,” Pal She said in a video released last week, adding, “This is the biggest, best, single bet I’ve ever seen in my career on any asset I’ve ever seen.”
The recent market crash, which saw Bitcoin once again lose its all-time high, did nothing to stop Pal’s enthusiasm for Bitcoin.
“$ 20,000 here isn’t the same as $ 20,000 back then, back then it had increased a hundredfold when it hit $ 20,000, we haven’t even started yet,” Pal said.
Additionally, Bitcoin is in better shape now than it was three years ago because its investor portfolio has changed, says Pal. In 2017, Bitcoin investors were almost all retail investors. But now Bitcoin is attracting powers from all over the financial world.
“Back then, the only investors were retail,” Pal said, adding, “All I hear every day from every contact is institutional money.”
Pal invests in Ethereum
Real Vision’s CEO also owns some Ethereum, albeit to a much lesser extent than Bitcoin.
According to a recent tweet, Pal’s Bitcoin and Ethereum wallet is around 80/20. When he explained this logic, he suggested that Ethereum could outperform Bitcoin by five times, albeit he called this is a “hunch”.
“The institutions don’t even know how to think about Ethereum yet, they’re just getting started,” Pal said.
In other words, while Pal owns some Ethereum, his expectations for any sense of mainstream Ethereum adoption are far lower than Bitcoin. In his view, this is because Bitcoin is much easier to understand than Ethereum.
According to Pal, “When you say digital gold, [investors] kind of get it. But when you say a platform for programming smart contracts and decentralized finance, and by the way they will change the algorithm “, things are not that simple.
Does Ethereum Need a More Simplified Value Proposition?
[ad_2]Source link
