Raoul Pal to Liquidate His Gold to Invest in Bitcoin and Ethereum

Tuesday 01 December 2020, 2:17 AM AEST - 1 month ago

According to reports, 98% of Raoul Pals liquidated net worth would be invested in Bitcoin and Ethereum in the ratio 80:20.

Raoul Pal, the CEO of Global Macro Investor and Real Vision has after months of declaring his support for cryptocurrency regulation and predicting a $1 million trading price for Bitcoin in the next five years finally decided to back his words with action. Pal has decided to liquidate his Gold to acquire Bitcoin and Ethereum. The former Goldsman Sachs fund manager did not specifically reveal the reason for such a bold decision, but it can be deduced from his previous assertions that he believes Bitcoin will most likely surpass its all-time high to rise to the moon.

According to reports, 98% of Raoul Pals liquidated net worth would be invested in Bitcoin and Ethereum in the ratio 80:20. A couple of months ago, Raoul Pal revealed that he initially had an equal amount of USD, Bitcoin, and Gold equities in his portfolio, however, he increased his Bitcoin holdings by more than 50% and even announced his intention to add more. Pal liquidated a portion of his cash allocation to buy more Bitcoins and hinted to liquidate gold to increase his BTC holdings.

With no disrespect to Gold, Raoul Pal believes that Bitcoin is going to outperform gold when it successfully breaks out from the pattern being created. His $1 million prediction has largely got to do with the wave of adoption in the pipeline. The recent announcements of retails and institutional investments mean there is a space for pension plans, endowments, and government allocations to go into Bitcoin. Pal also advised the Bitcoin community to make peace with the regulation in the pipeline.

The nature of Bitcoin that makes it difficult to subject users and investors under critical regulatory scrutiny pushes governments and bigger institutions away over possible tools for money laundering claims. In this context, bigger institutional and government investment would flow into the industry when it perfectly becomes guided by regulations.

Raoul Pal in a

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