Tag: RAOUL PAL

Macro Guru Raoul Pal Says Investors Bullish on Terra (LUNA) and Polkadot (DOT), Predicts Strong Rally for Ethereum

by Dailyhodl

Real Vision CEO Raoul Pal says that Ethereum is set to rally and that two altcoins popular among investors may be ready to compete with ETH.

In a new interview with Altcoin Daily, the macro guru says that a number of influential people whom he considers to be important investors are bullish on decentralized finance (DeFi) payment network Terra (LUNA) and interoperable blockchain Polkadot (DOT).

“You notice that there’s a huge amount of investors who are very bullish on Terra still including Remi (Tetot) who works for me, who was a co-founder of Real Vision and works for Global Macro Investor. He’s a big investor in that space, loves it and a lot of people are. 

A lot of people that I think are very important investors in the space are very bullish on Polkadot still, and they have been for a long time. It’s never really done what everybody expected it to do, but again you’ve got to keep your mind open to these things or it could be something else. Something else comes out of the blue, finds a different use case and before you know it, so it’s really hard to trade this kind of stuff.”

Pal also shares his 2022 forecast for Ethereum. He says the leading smart contract platform is still the greatest trade in the world. 

“I still think we actually got a strong run to come. I think this kind of year-long sideways correction that we’ve essentially had is just a springboard to further gains as more adoption rolls out, more use cases roll out, etcetera…

I still think, risk-adjusted, ETH will do extremely well over time. The reason why it’s expensive to use is because it’s so damn popular. It’s like a chain of prestige now for things to be built on because it is the more decentralized of all of the other layer-1s. So it makes sense to me, I think, with the change towards ETH 2.0 coming as well. I think that narrative will build over time as well, so I still think the upside in ETH is massive. In terms of market cap, where could it go, it could still go another 10x from here in terms of market cap alone. Over what period of time, who knows.”

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Macro Guru Raoul Pal Says Shift in Narrative Triggering Volatility in Crypto Markets – Here’s What He Predicts Comes Next

by Dailyhodl

Real Vision CEO and macro guru Raoul Pal says that the current downturn in the cryptocurrency market is driven by a shift in narratives.

In an interview during Ark Invest’s virtual Big Ideas Summit 2022, Pal explains what happens when the inflation rate frustrates market expectations.

“Why we’re seeing volatility right now is the shift of narratives. Markets don’t like that shift. The narrative was the inflation shift. The inflation shift last year. I think what happened is inflation was real and inflation destroyed marginal spending and marginal investing and I think we saw it in meme stocks.

We’ve seen across the market, we’ve seen it in cryptocurrencies where the marginal investor got marginalized because they didn’t have enough money. I think that was one of the features of what happened and the bond market was pricing in some more inflation, but not a great deal.”

Pal says that the narrative is shifting and that future indicators show both growth and inflation slowing faster than the general market expects.

“My general view, and I’ve held this for a while now, is that the central banks are more likely to get away with one hike, two hikes max before they’re looking at stimulative measures again because I don’t think the economy has got traction and we don’t know what the true traction is of the economy until maybe two years, three years after the pandemic recession has followed through.”

Despite the current volatility, Pal predicts that what comes are monetary policies that will be bullish for crypto.

“Very typical of every recession I’ve ever followed is basically there is a growth slowdown that comes fast afterward. The market panic starts talking about recession again. Usually, that doesn’t happen. There’s generally more stimulus, so I think it’s very supportive of crypto prices overall.

I think crypto’s gone through that transition phase. We saw the marginal spending, investing in crypto go down. I think now all I’m doing is speaking to large institutions about investing so I think the ongoing investment thesis continues and I think that the central banks will be more dovish than people expect going forward so we should have a longer cycle with more tailwinds than most people expect right now.”

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Wait, what? Former Bitcoin bull Raoul Pal only owns one Bitcoin?

by Cointelegraph

Former Goldman Sachs hedge fund manager and cryptocurrency bull Raoul Pal claimed in a tweet that he now only owns a single Bitcoin.

As the claim was made in the heat of a Twitter fight with self-proclaimed “Bitcoin Strategist” Greg Foss it’s not entirely clear whether it’s an exaggeration or an accurate statement about his holdings. Pal is the founder and CEO of Real Vision and Global Macro while Foss is an executive director at Validus Power Corp.

The revelation of his apparently small holding certainly caused uproar and angst among Bitcoin true believers, who’ve looked at Pal askance ever since he started calling Ethereum “the greatest trade” and predicted that ETH and altcoins will eventually outperform BTC.

Pal first purchased BTC in Nov 2013. He sold for a 10X profit in the so-called “fork-wars” of 2017 (missing out on an even bigger gain later that year) before adding to his collection in 2019 through 2020. In May 2021, he confirmed that he owned more ETH than BTC. At time of writing, Bitcoin (BTC) is worth $40,925.

The barney was instigated by Foss, who tweeted “Raoul is soft” followed by another intellectual tweet, “Raoul sucks and blows” shortly after. After some back and forth between Pal and the Bitcoin maxi, Pal posted that people like Foss and the Bitcoin community’s exclusionary ideology are why he only holds one Bitcoin.

This upset the Bitcoiner community, many who claimed he had let emotion cloud logic. “His feelings are hurting his future,” commented one user Emanuel in a reply to Bitcoin Meme Hub tweet. “I knew when he started to sip Vitalik’s coolaid he was a goner,” added another user, Jalan Foster.

The founder of Synaptic Ventures Marc van der Chijs complained that the fact Pal only owns one BTC based on the makeup of the community and not on the potential return “goes totally against the gospel he preaches on RealVision.”

However, some defended Pal, pointing to his impressive track record and reminding followers that he is in fact a trader, not a holder. Crypto analyst and founder of Crypto My Way “Coach T” wrote that he appreciates Pal’s “diverse views and intelligent thinking.”

Foss vs. Pal: a Twitter feud

It appears that the argument was in response to a disagreement on Pal’s stance on inflation and bonds as a trading vehicle. Foss explained that he didn’t support Pal promoting his trading strategy to others who don’t entirely understand how it works.

Pal disagreed, explaining that his views on bonds are “a trade, not a philosophy.” Despite this, in a following comment on the thread, Pal claimed that he doesn’t own any bonds.

Three hours after posting the original tweet attacking Pal, the argument eventually culminated in Foss tweeting an apology saying that he “regrets his actions,” adding that he “made a rookie error” and that he has “bigger battles to fight.”

Related: Raoul Pal says ‘reasonable chance’ crypto market cap could 100x by 2030

Just weeks ago, Pal said that he believes there is a “reasonable chance” that the crypto market capitalization will increase 100 times by the end of this decade. Hoping he’s right about that is perhaps something on which we can all agree.

Cointelegraph reached out to Raoul Pal via Real Vision and will update the story with any response.

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I Only Hold 1 Bitcoin, Real Vision CEO Raoul Pal Reveals

by NEWSBTC

Millionaire investor Raoul Pal has revealed how much he owns of bitcoin, a cryptocurrency that he has been known to actively promote in the past. In what was a shocking revelation, the CEO and founder of Real Vision posted his bitcoin holdings on Twitter, which turned out to be lower than everyone’s expectations. Pal disclosed that he only owned a measly 1 bitcoin.

Why Does Raoul Pal Only Own 1 Bitcoin?

The CEO got into a heated Twitter argument with Greg Foss after Foss insulted Pal. In a response to another user who defended the CEO saying they liked him, Foss explained that he was “just calling out the BS.” This is where Pal came into the conversation demanding to know what exactly it was that Foss was accusing him of as he’d like to know.

Related Reading | Bitcoin Millionaires Are Flocking To This North American Tax Haven. But What Do The Locals Think?

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Foss continued on to explain that he did not agree with Pal promoting his trading mechanism to other traders who were less inclined to understand how it worked, pointing towards bond math. Pal however disagreed with Foss’s assessment, stating that he did not hold his views on bonds as a philosophy, rather just a mechanism which he uses to trade.

The argument continued on, eventually culminating in Pal stating how much bitcoin he owned, which it turns out is a single bitcoin. The founder and CEO of Real Vision explained that it was because of the bitcoin community’s approach to inclusion that led to this decision. Pal lamented the exclusion of others from the space who happen to share a different viewpoint from the accepted majority.

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“This is why I hold only one bitcoin, the community has lost sight of inclusion and you sir, are helping reduce the network effects by excluding people who don’t share your view from the network,” said the CEO.

It eventually ended with Greg Foss conceding and acknowledging he was wrong to have attacked Pal in the first place. In a separate tweet, Foss tendered an apology to the CEO, stating that he regretted his actions.

Not Completely Out From Crypto

Despite his views on the bitcoin community, Raoul Pal has not entirely ruled crypto. Even bitcoin has not been completely ruled out as evidenced by his tweet stating that he does own one BTC. However, Pal has moved on to other things in the crypto space. Given his comments not too long ago, the CEO is now more bullish on ethereum compared to bitcoin.

Related Reading | Bitcoin Implied Volatility Plummets To Pre-Bull Market Levels: What This Means

Pal noted back in November that he expected ethereum to continue to outperform bitcoin given its performance in previous months. The millionaire investor still holds a well-rounded bullish view on bitcoin but expects ethereum to be the better investment of the two going forward.

A month before this, Pal had received that he made the biggest personal position of his life in ethereum. He explained that he is long the digital asset which he placed at the $20,000 mark by the second quarter of 2022, less than six months away from now.

Featured image from iGaming.org, chart from TradingView.com

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Raoul Pal says ‘reasonable chance’ crypto market cap could 100X by 2030

by Cointelegraph

Former Goldman Sachs hedge fund manager and Real Vision CEO Raoul Pal thinks that the crypto market cap could increase 100X by the end of this decade.

At the time of writing, the total market cap of the global crypto sector stands at $2.2 trillion, and Pal told podcast Bankless Brasil “there’s a reasonable chance” this figure could grow to around $250 trillion if the crypto network adoption models continue on their current trajectory.

Pal drew comparisons between the current benchmarks of other markets and asset classes such as equities, bonds and real estate, noting that they all have a market cap between “$250-$350 trillion.”

“If I look at the total derivatives market, it’s $1 quadrillion. I think there’s a reasonable chance of this being a $250 trillion asset class, which is 100X from here, which would be the largest growth of any asset class in all of history in the shortest period of time.”

“That will pretty much dovetail in with the idea that 3.5 billion people are using it — that’s just extrapolating the growth numbers of the network. So if [there are] 3.5 billion users in 2030, well the market cap’s going to be something like $250 trillion,” he added.

One thing is for certain, it’s not going to get there in a straight line upward.The total crypto market cap has dropped 6.8% over the past 24 hours amid a significant pullback across most major assets. Bitcoin (BTC), Ethereum (ETH) and Binance Coin (BNB) are 7.6%, 9% and 9.1% within that same time frame.

Related: Bitcoin price drops to $43.7K after Fed minutes re-confirm plans to hike rates

The recent downturn may even be a surprise to Pal, during an interview on Dec. 27, the investor predicted that Bitcoin would have a strong start to 2022 as he believed at the time a period of institutional sell-offs and end of year profit-taking was over.

“It looks like they’re done because the market has been chopping around for the past week, which was the traditional last week of everybody squaring their books,” he said.

In November, Pal predicted that the bull run won’t end in December like the previous cycles of 2015 and 2017, and will instead be extended until around June. Pal cited heavy institutional inflows in Q1 as a major reason behind this.