Raoul Pal, CEO and founder of Real Vision, says he believes that Bitcoin is the only asset worth buying for long-term investments.
Raoul Pal is betting on BTC today
Real Vision CEO and founder Raoul Pal says his “Level of conviction” Bitcoin is on the rise every day as it compares cryptocurrency assets with traditional investments across different time scales.
Applying the theory of economic cycles in a series of graphs published on Twitter On August 6, the former Goldman Sachs fund manager stated that while many investors choose gold as an alternative to Fiats, Bitcoin (BTC) is the only asset in the world that can currently “Balance the growth of the G4 balance.” The G4 of course refers to the Bank of England, the Bank of Japan, the US Federal Reserve and the European Central Bank.
“These are not stocks, bonds, commodities, loans, precious metals. Only one resource outperformed almost every time horizon: Bitcoin “
In fact, only one asset has offset the growth of the G4 balance sheet. Its not stocks, not bonds, not commodities, not credit, not precious metals, not miners. Only one asset massively outperformed over almost any time horizon.
– Raoul Pal (@RaoulGMI) August 6, 2020
“My belief in Bitcoin grows stronger every day. (…) Now I think it may not make sense to have any other asset as part of a long term asset allocation, but that’s a story for another day.
BTC rate over the next five years
Pal had previously told Cointelegraph that the devaluation of global currencies would cause Bitcoin’s price to rise 50 to 100 times over the next five years. He interpreted the economic cycle theory charts to show that the major cryptocurrency could eventually hit $ 1 million.
As of this writing, the price of Bitcoin is approaching $ 11,800, after increasing by 6%. in the last seven days and a 1% jump in the rate on a 24-hour scale.
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