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  • Bitcoin Is a Life Raft For Investors But a Cockroach For The Financial System

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    Bitcoin is a life raft for investors

    Raoul Pal: Bitcoin Is a Life Raft For Investors but a Cockroach For The Financial System

    According to Bitcoin Bull, Raoul Pal, ‘Bitcoin is a life raft’ needed for investors as they try and overcome the outgushing of fiscal and monetary change that’s coming in the next five years.

    Pal articulated the reality of Bitcoin and what it is to different sectors of society. And while he believes it offers investors their best hope for survival, the Real Vision CEO likened Bitcoin to a cockroach for the legacy financial system – ‘something they simply can’t kill off.’

    Speaking on a Real Vision special broadcast that he felt was ‘critically important to get out’, macro strategist Raoul Pal said the sea of change that was coming in the legacy world would be a complete overhaul of the fiscal and monetary system.

    Raoul Pal: Bitcoin is a life raft, Bitcoin is a cockroach

    CBDCs Will Give Governments Complete Control of Our Money Within 5 Years

    Bitcoin Bull, Raoul Pal delivered what he called ‘one of the more important pieces of content’ on his Real Vision Finance channel.

    Pal, who had recently published a Twitter thread about his vision, felt it necessary to reach out to as many people as possible and explain how he believes the system is set for radical change.

    The broadcast was a 35-minute monologue, and Raoul Pal explained how a tsunami of change coming to the financial system over the next five years.

    Pal said governments would lure us into the new system built around Central Bank Digital Currencies (CBDC), and within five years they would have complete control of monetary and fiscal policies.

    Raoul Pal: Bitcoin is a life raft against CBDC fiscal and monetary policy

    ‘Central Bank Digital Currencies will come over the next two years,’ said the former Goldman Sachs money manager. ‘They’ll slowly force us into the system, and by 5 years there’ll be no cash, and then they can make structural changes.’

    The former hedge fund manager said CBDCs would offer many benefits, but there’d be many disadvantages as it would give governments complete control of our money, allowing them to manipulate every way we use money in our lives.

    The World’s Most Pristine Asset, Bitcoin Is A Life Raft We Need

    CBDCs are just part of the problem. Governments are going to debase our currencies so much in the lead up to them, that anyone keeping wealth in cash will lose out.

    Pal likened Bitcoin to a life raft we need during the sea of change and sees it eventually overtaking gold to become the store of value in the future.

    ‘Nothing is a reserve asset like Bitcoin. Literally nothing. Not even gold. It’s truly extraordinary and it’s so innovative we have no idea where it’s going.’

    ‘For this modern digital world, [Bitcoin] is the payment system that we all want, but it’s also more importantly the store of value that we need.’

    ‘Bitcoin is the world’s most pristine reserve asset. It is the only hard asset that has a fixed supply. … and demand is increasing. Bitcoin is going to overtake gold in size. Gold is ten or eleven trillion. I think Bitcoin goes much bigger than that over time.’

    Everyone Will Adopt A Bitcoin Standard

    Pal believes the whole legacy system will be absorbed by Bitcoin, and eased any fears of governments killing Bitcoin off, calling Bitcoin the cockroach the legacy system can’t kill off.

    ‘It is something too powerful for even governments to overcome,’ said the Bitcoin Bull. ‘And I think it is our life raft and our way out.’

    ‘It’s impossible to kill off [Bitcoin]. It’s a cockroach in finance, something you can never kill. Some government might ban it but another will adopt it and let you use it.’

    ‘First it won’t be a big government, but some nation will be sick and tired of currency crises and will just adopt Bitcoin as its currency. They’ll probably start putting it into their central bank reserves because it’s a hard currency. And the game theory plays out.’

    Raoul Pal: Bitcoin is a life raft against fiscal policy - time for a Bitcoin standard

    Change Is Coming, Make Sure You Have Part Of The Life Raft

    Change is certainly coming, and governments are racing to be the first to offer a CBDC.

    The system is broken now, and CBDCs offer new ways for governments to create fiscal policy, but they also give them too much control over our finances. And that is frightening. As is the race to debase.

    Purchasing power of the USD, the EURO and every other government printed fiat currency is falling more than we’re led to believe, and governments will benefit from debasing them even further.

    Raoul Pal says ‘Bitcoin is a a life raft’ that offers a safe way out of the monetary and fiscal downpour. Something we were helpless to avoid, until now.

    Author: Pablo Clarke

    Bitcoin FAQs

    Where can I buy Bitcoin in Nigeria?

    There are several reputable Bitcoin exchanges operating in Nigeria. However, the most recommended exchanges are Kraken or BlockFi. Or you can buy Bitcoin from Bitcoin marketplaces, such as LocalBitcoins or Paxful. All of these exchanges and marketplaces are global with high liquidity and excellent customer service. Check out our reviews on each platform.

    Why should I buy Bitcoin?

    People who understand Bitcoin buy Bitcoin because it is a peer-to-peer money that nobody can manipulate. It’s all set in the Bitcoin codebase which is secured by hundreds of thousands of computers all around the world. Bitcoins can be sent by anybody and no third party is need to verify the transactions, and nobody can stop Bitcoins being sent. There are many more reasons why people buy Bitcoin, and a deeper dive before doing so is recommended.

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    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.

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