Raoul Pal places his money where his mouth is.
Real Vision’s CEO and Global Macro Investor says that he is selling all his gold to place the majority of his liquid net portfolio into Bitcoin and Ethereum.
“Ok, the last bomb – I have a sell order in tomorrow to sell all my gold and to scale in to buy BTC and ETH (80/20). I don’t own anything else (except some bond calls and some $’s). 98% of my liquid net worth. See, you can’t categorize me except irresponsibly long. Good night all.”
Pal is a longtime Bitcoin bull and investor and then placed his first BTC back in 2012. Throughout this year, he steadily increased his crypto portfolio and named BTC a “supermassive black hole” that feasts on gold, NASDAQ, banks, bonds, and commodities.
“Bitcoin’s performance is SO dominant and SO all-encompassing that it is going to suck in every single asset narrative dry and spit it out. Never before in my career have I see a trade so dominant that holding any other assets makes almost no sense.”
Pal remarks that he believes Bitcoin can crack $1M in the next five years because of a surge of institutional interest. He also states that he’s making a bet that he can afford to lose when a worst-case scenario happens.
Peter Brandt, a Veteran analyst commends Pal for the risky move, naming it one of the boldest that he witnessed as a trader.
“Hey, Raoul… One of the boldest bets anyone I’ve known has made and 100’s on Twitter nitpick and criticize you on principle and details. UNBELIEVABLE! They’re missing it. This story isn’t about detail, but about huge gonads and style. I wish you great luck, one spec to another.”
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