There are all kinds of optimistic predictions about the price of the most important digital asset that are circulating these days.
Just earlier today, we addressed a recent one, and they keep coming in.
For instance, now, Raoul Pal is also explaining to readers the reasons for which he’s so bullish on BTC and he invested a great deal in the king crypto.
Raoul Pal shifted more than half of his portfolio to BTC
The Real Vision CEO and former Goldman Sachs manager offers us the reasons for which he’s shifted more than half of his portfolio to Bitcoin.
During a new interview with The Breakdown podcast host Nathaniel Whittemore, Pal explained that BTC is definitely the top asset on the planet, and this is true despite the fact that the king coin witnesses massive levels of volatility.
“I’m now just firmly of the opinion that [Bitcoin] is the world’s greatest reserve asset. Yes, we have too much volatility for that right now but I can’t fault it. It doesn’t work for a whole bunch of stuff or it could do but it’s probably not good enough and maybe that’s not its role,” he said as cited by the Daily Hodl.
He continued and said: “But, as the foundation stone for everything? It’s got a bloody good chance. I don’t see anything that’s going to come on the horizon or that exists already that has a chance.”
Bitcoin can outperform gold
He also said that BTC is definitely superior compared to gold.
“If you look at the supply of gold, it’s 2% a year, so they’re devaluing gold by 2% a year, because the demand is not offsetting the supply… and if you compound that it’s basically the rate of inflation, so if you compound that, you’re actually losing purchasing power,” he explained.
He said that the only asset on the planet that can outperform gold is BTC.
He also explained that BTC is now at the beginning stages of a new massive bull run and in the future BTC has the ability to reach $1 million. He also pointed out the fact that the volatility of the king coin will eventually fade.
“Bitcoin was unique. It started as a groundswell. It came from individuals. Nothing else has come this way. And we now need to get in the institutions,” he explained.
He also said that “Bitcoin will morph from being a rocket ship to a cruiseliner. And it needs to happen. But not yet. We’d like to do that at a higher price, please.”
At the moment of writing this article, BTC is trading in the red, and the coin is priced at $10,686.90.