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Real Vision’s CEO announced that he had placed a sell order to sell his gold and would instead buy Bitcoin and Ethereum. Pal’s move, which had a huge impact on the cryptocurrency market, received hundreds of comments and thousands of likes.
Raoul Pal has announced that he will sell all of his gold and buy 80/20 bitcoin and Ethereum. Saying he has a few dollars and bonds, the economist said 98% of his net worth is now in Bitcoin and Ethereum. Pal said:
“Well, last bomb: I have ordered all my gold to sell for tomorrow. I will get the 80/20 rate of BTV and ETH. I have nothing else. You will no longer be able to rank me other than being “#irresponsibly long” (being irresponsibly long). Good night to all. “
Why 80/20?
Dan Held, who works on Kraken and provides his comments on Bitcoin, commented on Raoul Pal’s latest outing. “What’s behind the choice of the 80/20 ratio?” Held told Pal. she asked. Raoul Pal said: “Ethereum probably performs better than 5/1, but who knows. BTC is a simpler choice. ” She said.
“Exchange the ETH you purchased for BTC”
Investor Stephen Cole, referring to Raoul Pal’s tweet, “Exchange the ETH you bought for BTC, it would be a better move for you.” She said. But economist Pal said he disagreed and that such a move would be absurd.
The famous economist reiterated once again that he will be in a 100% long position in BTC / ETH.
See tweets below. I am not part of your tribe: cryptographic, philosophical, political or economic. I have ZERO interest. Yet they are almost 100% long BTC / ETH. Never pigeonhole me, except that I have an open mind to opportunities and will take them. Thanks. https://t.co/opw7hyeioS
– Raoul Pal (@RaoulGMI) November 30, 2020
A confession came from Peter Brandt
Famous investor Peter Brandt was also among those who commented on Pal’s exit. One user told Brandt: “How are your situations?” asked a question in the sense. The brand said:
“Outside of the real estate sector, Bitcoin is the asset that I hold the largest% percentage position. But mine remains very low compared to Raoul’s.”
Aside from real estate, BTC is my single most important position as a% of assets, but nothing close to the commitment Raoul has made.
– Peter Brandt (@PeterLBrandt) November 30, 2020
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