Raoul Pal: Institutional Clients Entering The Bitcoin Market At An Enormous Pace
Real Vision CEO Raoul Pal says many different sized institutional investors are entering the Bitcoin market at an enormous pace.
Pal is well known for being bullish on Bitcoin and has previously said ‘a perfect storm was brewing for Bitcoin.’
And earlier this year the former hedge fund manager gave a bold prediction that ‘Bitcoin’s price would reach $1 million by 2025’.
And speaking on CoinTelegraph YouTube channel, Pal was as bullish as ever, saying institutions were entering the Bitcoin market and they could drive the price way beyond any of us dare predict.
Institutional Money is Entering The Bitcoin Market At Enormous Pace
The macro strategist cited his own insider knowledge for his bullish sentiment, saying the Bitcoin market is different this time as it’s now being driven by institutional demand for Bitcoin.
‘From what I know and I know a lot of people in the industry, they are all onboarding institutional clients, family offices, endowments at an enormous pace,’ said Pal, who believes we’re only just getting started.
‘$20,000 here is not the same as $20,000 back [in 2017]. Back then it had gone a hundred fold when it had got to $20,000. We haven’t even started this yet, so later on, when things get speculative, we’ll see something similar play out.’
Raoul Pal , who once called Bitcoin ‘priceless‘, was pressed for a 12 month price prediction, and the macro strategist maintained his recent bullish outlook.
‘If I was to be conservative, I’d say $150,000. If I’m to be realistic, knowing what I know of the flow of funds, I think, I have a feeling that PlanB’s model [$288k price prediction] is gonna underprice the upside,’ maintained Pal. ‘I know everybody thinks on this cycle the price will be lower. I just don’t see it because of the amount of money coming into the space.’
Bitcoin’s Supply and Demand Imbalance
Pal, who writes his GMI newsletter for many of the world’s biggest money managers, says Bitcoin’s supply and demand imbalance is like nothing he has ever seen before.
Pal cited Grayscale, PayPal and Square’s buying spree for the new supply drying up, and said the coins in the Bitcoin market are coming off the exchanges and going straight into cold storage.
‘There is no supply. I have literally never seen a situation like this before where there is no supply coming into the market, and demand is going up everyday because institutions are coming in.’
‘We’re at the early stage of something that’s potentially much bigger than any of us actually think,’ said Pal. ‘And that that is almost a little bit terrifying. I’ve never seen a market with this supply and demand imbalance before.’
However Macro Plays Out, Bitcoin Will Win
Pal was questioned on the macro economic outlook, but the Global Macro Investor CEO said the Bitcoin market would win whichever scenario played out.
With coronavirus vaccine giving hope to the traditional markets, Pal rubbished claims that Bitcoin is an ‘anti-vaccine trade’ saying the detractors simply don’t understand Bitcoin.
‘Regardless of what’s going on, that money is coming [into the Bitcoin market],’ said Pal citing the weak global economy.
The macro strategist said governments won’t stop the printing presses no matter the macro scenario. So, the devaluation of all fiat currencies and with low interest rates being here for the long term, it’s all playing into the Bitcoin narrative.
Bitcoin Set To Absorb ‘A Wall Of Money’
The Bitcoin market is set to absorb ‘a wall of money’ that’s about to enter the space.
Raoul Pal has regularly spoken about his bullish sentiments on Bitcoin, and the GMI founder writes research material for some of the biggest money managers in the world.
The Real Vision CEO is one if the most respected macro strategists, and he is privy to much of what’s going on in the institutional space.
Institutional clients are entering the Bitcoin market at enormous pace and the demand for Bitcoin is going to increase. Added with the supply drying up, economics 101 tells us that Pal will be right.
The 2017 run was retail led, the 2021 run will be driven by institutional greed and if Raoul Pal is right, we’re going to see a minimum $150,000 Bitcoin price in 12 months.
Author: Tommy Limpitlaw
Can I start Bitcoin with no money?
Absolutely! Bitcoin is like other investments and currencies. If you have some money to invest, you can make more faster by buying Bitcoin. You can lose more faster, as well if you don’t know what you’re doing. But if you don’t have any money to invest you can earn free bitcoins from playing games, learning about cryptocurrencies, or offering your skills for Bitcoin.
Why should I buy Bitcoin?
Bitcoin 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.
Can you buy less than 1 Bitcoin?
Yes. Every Bitcoin can broken down into 100 million bits. They are known as satoshis, after the pseudonymous creator Satoshi Nakamoto. And some companies will let you buy as little as $1 worth of Bitcoin, which at time of writing is worth about 11,000 satoshis. There are many companies that have a system for dollar cost averaging (DCA). This is a great way to buy Bitcoin, and is known in the space as ‘Stacking Sats’. Basically, what you do is set up small automatic, recurring payments to buy Bitcoin (or sats), and you DCA over time.
Where is the best place to buy Bitcoin?
There are many great places to buy Bitcoin, and it all depends on your preference. You can buy on typical cryptocurrency exchanges, such as Kraken and Coinbase. Or you can buy from peer-to-peer Bitcoin marketplaces, such as Paxful and LocalBitcoins. You can also buy Bitcoin from Bitcoin ATMs. It all depends on your location and preference.
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.