Former Goldman Sachs Exec Raoul Pal Now Has 98% of His Net Worth in Crypto

Monday 30 November 2020, 7:56 PM AEST - 1 month ago


On Monday (November 30), Raoul Pal revealed that his liquid net worth is almost fully invested in crypto.

Prior to founding macro economic and investment strategy research service Global Macro Investor (GMI) in 2005, Pal co-managed the GLG Global Macro Fund in London for global asset management firm GLG Partners (which is now called Man GLG). Before that, Pal worked at Goldman Sachs, where he co-managed the European hedge fund sales business in Equities and Equity Derivatives. Currently, he is the CEO of finance and business video channel Real Vision, which he co-founded in 2014.

In the April 2020 issue of the GMI newsletter, Pal explained why he believes that Bitcoin, which he calls the future, could one day have a $10 trillion valuation. In that issue, Pal said that the idea of a $10 trillion valuation for Bitcoin is not so crazy:

After all, it isnt just a currency or even a store of value. It is an entire trusted, verified, secure financial and accounting system of digital value that can never be created outside of the cryptographic algorithm…

It is nothing short of the future of our entire medium of exchange system, and of money itself and the platform on which it operates.

On October 7, during an interview with Daniela Cambone, Editor-at-Large and Anchor at Stansberry Research, Pal said that said that Bitcoin has a 50% allocation in his personal investment portfolio and that he is considering selling his gold to buy more Bitcoin.

Thats has been an ongoing narrative. Ive been involved in Bitcoin since 2012. Its been an ongoing narrative that at the beginning of this I knew the only answer would be cut all interest rates to zero and probably negative and then massive stimulus beyond anything which weve ever seen before.

So the first phase I want to be involved in Bitcoin. So, I bought into the sell-off, added to my positions, a ...

Read full story on CryptoGlobe

Disclaimer: The content and views expressed in the articles are those of the original authors own and are not necessarily the views of Crypto News. We do actively check all our content for accuracy to help protect our readers. This article content and links to external third-parties is included for information and entertainment purposes. It is not financial advice. Please do your own research before participating.