Former Goldman Sachs fund manager Raoul Pal puts his money where it is.
The CEO of Real Vision and Global Macro Investor this it sells all of its gold to place the vast majority of its liquid net portfolio in Bitcoin and Ethereum.
“Ok, last bombshell – I have a sell order tomorrow to sell all my gold and scale up to buy BTC and ETH (80/20).
I don’t own anything else (except a few bond calls and $). 98% of my cash net worth. See, you can’t categorize me except irresponsibly. Good night all. “
Pal is a longtime Bitcoin bull and investor and placed his first BTC buyback in 2012. Throughout 2020, he has steadily increased his crypto portfolio and called BTC a ‘supermassive black hole’ who feast on them. gold, the NASDAQ, banks, bonds, and commodities.
“Bitcoin’s performance is so dominant and so comprehensive that it’s going to suck every asset story dry and spit it out. Never before in my career had I seen such a dominant profession that owning other assets almost made no sense.
Pal points out that he believes Bitcoin could earn $ 1 million over the next five years due to renewed institutional interest. He also says he’s making a bet he can afford to lose in the worst case.
Veteran analyst Peter Brandt is congratulate Pal for the risky move, calling it one of the most daring he has seen as a trader.
“Hey Raoul… One of the most daring bets I’ve ever made and hundreds on Twitter nitpick and criticize you on the principle and the details. UNBELIEVABLE! They miss him. This story is not a story of details, but of huge gonads and style. I wish you good luck from one specification to another. “
Disclaimer: The opinions expressed in The Daily Hodl are not investment advice. Investors should do their due diligence before making high risk investments in Bitcoin, cryptocurrency, or digital assets. Please note that your transfers and transactions are at your own risk and that any losses you may suffer are your responsibility. The Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in Affiliate Marketing.
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