Former Goldman Exec Raoul Pal Placing Huge Bet on Crypto, Moving 98% of Portfolio to Bitcoin and Ethereum

Wednesday 02 December 2020, 6:09 AM AEST - 1 month ago

Former Goldman Sachs fund manager Raoul Pal is placing his money where his mouth is.

The CEO of Real Vision and Global Macro Investor says hes selling all of his gold to place the vast majority of his liquid net portfolio into Bitcoin and Ethereum.

Ok, 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 dont own anything else (except some bond calls and some $s). 98% of my liquid net worth. See, you cant categorize me except irresponsibly long. Good night all.

Pal is a longtime Bitcoin bull and investor and placed his first BTC buy back in 2012. Throughout 2020, he has steadily increased his crypto portfolio and called BTC a supermassive black hole that is feasting on gold, the NASDAQ, banks, bonds, and commodities.

Bitcoins 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 highlights he believes Bitcoin could crack $1 million within the next five years due to a surge of institutional interest. He also says hes making a bet he can afford to lose in a worst-case scenario.

Veteran analyst Peter Brandt is commending Pal for the risky move, calling it one of the boldest hes witnessed as a trader.

Hey Raoul… One of the boldest bets anyone Ive known has made and 100s on Twitter nitpick and criticize you on principle and details. UNBELIEVABLE! Theyre missing it. This story isnt about detail, but about huge gonads and style. I wish you great luck, one spec to another.

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