Investor on why bitcoin is 'literally the biggest story I've seen,' may hit $1M and top gold's market cap
Influential investor RAOUL PAL says the best trade he's ever found is bitcoin (BTC-USD), which he's described as "a call option on the future" and "the world's most pristine reserve asset."
In a recent interview on Yahoo Finance, Pal said that the central banks move toward digital currencies is "literally the biggest story" in his career.
Investors like Pal don’t want to compete against central banks, but aim to create “a digital world," Pal said, underscoring that despite big reservations, policymakers don’t appear to want to ban crypto completely.
“They understand the technology is out of the bottle. The genie is out of the bottle,” the investor said. “There's nothing you can do about it. It's not going away."
Despite the cryptocurrency’s notorious head-spinning volatility and growing association with scams, Pal declared flatly that bitcoin and crypto “is here to stay.” Last week, PayPal (PYPL) launched its own service to buy, sell and hold digital currency.
Pal, a Goldman Sachs alum, previously co-managed GLG's global macro fund, one of the world's largest. Since retiring back in 2004, he now authors a research letter, The Global Macro Investor (GMI), which is read by some of the most influential hedge funds, asset managers, and sovereign wealth funds.
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Raoul Pal on Real Vision
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"The 5 Rules to AWAKENING: Rule #1 - Everything you were ever taught is a lie by design; Rule #2 - governments lie 100% of the time, they always have, and they always will; Rule #3 - the Illuminati controlled mainstream media is not reality, but rather is lies, disinformation, half-truths, and fake events carried out by gov/media hired crisis actors (aka role players); Rule #4 - Spirituality and Reincarnation are reality, whereas religions are simply government crowd control measures; and Rule #5 - this plane(t) called earth is a flat, motionless plane, it is not a spinning ball hurling through outer space. Furthermore, the 4 Sources of Disinformation that are ALWAYS FAKE: government, mainstream media news, matrix sciences, and religions." -- Sergeant Major
