Bitcoin Bull Raoul Pal: Bitcoin Is Literally The Biggest Story I’ve Seen In My Life
Bitcoin Bull Raoul Pal has enunciated his bullish sentiment for Bitcoin once again. This time the Real Vision Finance CEO called Bitcoin ‘literally the biggest story’ of his life.
The way all governments are printing money will force everyone to hedge away from dollar denominated assets, according to the British Bitcoin Bull-dog.
A Wall of Institutional Money Is Heading To Bitcoin
Pal, a former hedge fund manager at JP Morgan, says ‘a wall of money’ from the institutional space is heading towards Bitcoin, as institutions go in search of a safe haven from the macro uncertainty.
Raoul Pal believes the government giving banks crypto custody allowance is basically ‘codeword for prime broking for the hedge funds.’ So we should expect the hedge funds to enter the Bitcoin space, from as early as next year.
We can then expect Registered Investment Advisors (RIA) to enter the space along with an ETF. RIAs manage the assets of high net-worth individuals and institutional investors, and these will trigger huge swathes of investment.
‘The RIAs are coming into the space,’ said the Bitcoin Bull. ‘Once an ETF gets launched, that’s going to suck in much more capital from the RIA space. The endowments, the pension funds, they’re all coming into the space.’
And the Real Vision Finance CEO seemed more animated as he spoke about Bitcoin’s growth, saying the macro story was set up perfectly for Bitcoin. And as BTC price goes up, it will only attract more money.
‘The larger the [Bitcoin] market cap goes up, it becomes a real asset class and it sucks in more money. … It’s literally the biggest story I’ve ever seen in my life.’
Bitcoin Bull Raoul Pal: Bitcoin Is Eating The World
If Pal’s voice wasn’t reverberating enough around the home of that wall of money, he took to Twitter to propound his thesis even more.
Pal articulated in a tweet storm how gold was breaking down against Bitcoin, as was the Nasdaq, Bonds, the Banking Index and even Amazon and Apple.
They’re all breaking down against Bitcoin, and Pal believes everything is set up perfectly for Bitcoin.
Raoul Pal isn’t known for keeping his bullish sentiment to himself, but he seems to be getting even more bullish by the week. The former hedge fund manager likened the leading cryptocurrency to a ‘supermassive black hole’. Something ‘the little guy’ has a chance of getting before most of Wall Street does.
‘The supermassive black hole is going to suck in everything,’ said the Bitcoin Bull. ‘Again, this is the best trade/investment and future opportunity I have EVER found and it has the power to give the little guy a chance to grab their share of the wealth creation before Wall Street does. Grab it.’
Bitcoin is Literally The Biggest Story Of Our Lifetimes
2020 has been a year to forget for many. Covid, lockdowns, riots, have plagued the world this year, and governments are dilly dallying, not knowing what to do. Their only answer is to print record amounts of fiat.
It can only end one way. Inflation will come. Everyone knows it, and the central banks are openly trying for it. But most of the world is asleep at the wheel.
The banks offering custody will open up more aqueducts for streams of cash to pour into the Bitcoin space. This will introduce many of the big players to the Bitcoin space. And as it grows, naturally more money will pour in.
Although, the Real Vision Finance CEO didn’t give a time frame, I expect he was talking about the next 5-7 years for this all to play out.
We’re only in the first innings of this, and the little guy on the street wonders if he’s too late to invest in Bitcoin. Introduce them to our very own Bitcoin Bull Raoul Pal, and they’ll soon pop the orange pill.
Author: Pablo Clarke
What is the point of Bitcoin?
Bitcoin is a decentralized money. A money that nobody can control or manipulate, and a money that nobody can print and devalue. It’s also not necessary for any third party to verify transactions, so it makes it much faster and cheaper to send value. It’s also money built on the Internet: a society of almost 5 billion people.
How do you make money with Bitcoin?
There are many ways to make money with Bitcoin. The most obvious way is to mine Bitcoin. Bitcoin mining is the process of verifying transactions, and helping to secure the Bitcoin network. Bitcoin miners are rewarded with bitcoins for their work.
Is Bitcoin legal?
As of October 2020, Bitcoin is legal in most countries. The US, UK, Canada, Japan, and all other developed nations it is very much legal. However, the legal status of Bitcoin varies in other jurisdictions.
Who is the CEO of Bitcoin?
There is no Bitcoin CEO. There is no central authority that directs or controls Bitcoin. It was created by a pseudonymous programmer Satoshi Nakamoto, but he gave it up to the community, and now all decisions are made by the hundreds of thousands of miners and nodes who work for the Bitcoin network.
A Bitcoiner since 2017 and a Bitcoin Maximalist since 2018, Tommy is our main writer and editor at Bitcoin Maximalist. Other than researching and writing about Bitcoin, Tommy loves spending time with his family and supporting his beloved Leeds United.