In a recent interview, former Goldman Sachs executive Raulpal explained why, despite being “very bullish.” Initially Bitcoin, he later came to the conclusion that Ethereum is superior to Bitcoin.
Prior to establishing the Global Macro Investor (GMI), a macroeconomic and investment strategy research service in 2005, Pal established the GLG Global Macro Fund for GLG Partners (now known as “ManGLG”) in London. It was jointly managed. Prior to that, he worked at Goldman Sachs. There, he co-managed the European hedge fund sales business for equity and equity derivatives. He is currently the CEO of RealVision, a financial and business video channel co-founded in 2014.
In the April 2020 issue of the GMI newsletter, Pal explained why he believes that Bitcoin, which he called the “future,” could one day be valued at $ 10 trillion. In that issue, Pal said the idea of Bitcoin’s $ 10 trillion valuation wasn’t that crazy:
“”After all, it’s not just a currency or a store of value. It is a reliable, validated, secure digital value financial and accounting system that can never be created outside of cryptographic algorithms. It is the whole exchange system, and the future of money itself and the platform. It works.“”
Since then, Pal has provided the latest information on his changes in cryptography. For example, on October 29, 2021, he said on Twitter that he was “irresponsibly long” Ethereum ($ ETH).
He went on to explain the other types of crypto assets he had.
In a recent interview with Real Vision, Pal said his view of Bitcoin and Ethereum has changed since it first entered cryptocurrencies, according to a report by The Daily Hodl released on March 4.
“”When my view of Bitcoin changed a lot, I didn’t think of it as an asset, but from a network terminology and community perspective, I thought the community wasn’t attracting new people. And the job of the network is to attract new participants. And if the network is actively rejecting people, I thought it would underperform...
“”It was a surprise to me as I was very bullish on Bitcoin at first. And what happened almost immediately, and that made me change my mind, is that the agency is moving forward, well, I don’t really have this space. And I started buying ETH.“”
Pal also said that $ ETH is currently the best bet in cryptospace:
“”It’s like the internet. At that moment, okay, this is like a much better bet. So I made that bet. And I finally moved the majority to Ethereum and made other bets on space to represent the macro view.“”
Disclaimer
The views and opinions expressed by the author or those mentioned in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing or trading crypto assets carries the risk of financial loss.
Image credit
Featured images via pixabay.com by “vjkombajn”
..
