Bitcoin and Ethereum Statement by Raoul Pal
Raoul Pal today announced that he has invested nearly all of his liquid net worth in Bitcoin and Ethereum. Before Pal established the macroeconomics and investment strategy research service Global Macro Investor (GMI) in 2005, he conducted global asset management firm GLG Partners (now called “Man GLG”). ) for the GLG Global Macro Fund in London. Prior to that, Pal had worked for Goldman Sachs. Here he led the European hedge fund sales business in Stocks and Equity Derivatives. Paul is currently CEO of Real Vision, the finance and business video channel, which he co-founded in 2014.
In the April 2020 issue of the GMI newsletter, Pal explained why he believed that Bitcoin, which he described as “the future”, could have a value of $ 10 trillion one day. In this issue, Pal said that the idea of a $ 10 trillion valuation for Bitcoin isn’t all that crazy:
“After all, it’s not just a currency or even a store of value. A completely reliable, verified, secure financial and digital value accounting system that can never be created outside of the cryptographic algorithm… ”
Pal made a statement in an interview with Stansberry Research’s editor-in-chief and panelist, Daniela Cambone, on October 7. He stated that Bitcoin has a 50% share in the personal investment portfolio and is considering selling gold to buy more Bitcoin.
In a tweet flood posted on Oct. 27, Pal described Bitcoin as “a supermassive black hole that absorbs and destroys everything around.” Pal concluded by saying that Bitcoin is the best investment opportunity he has ever come across.
Today, Pal emphasized that he will use the money to sell all gold assets and invest the money in Bitcoin and Ethereum, which corresponds to 98% of its net liquid value.
Pal thus embodied his previous statements about Bitcoin.