Former Goldman Sachs Manager: Bitcoin Is Set To Bypass Other Assets This Decade
Former Goldman Sachs CEO Raoul Pal believes bitcoin has the potential to be the best asset of the decade.
“If I had the opportunity to hold only one asset for the next 10 years, I would choose Bitcoin,” he writes. – Bitcoin reflects all my views in a macroeconomic context and seems to be a point far on the horizon towards which we are moving. Yes, like gold and many other things, but the ratio of risk and reward in bitcoin covers everything “.
Pal has an uneasy relationship with Bitcoin. He invested and sold crypto early in the summer of 2017, calling it “the solution to his problem.” In August 2019, Pal announced that despite the high volatility and inherent risks, Bitcoin deserves the attention of investors, even if the probability of its success is only 1%..
“I know all these guys who are playing in the macroeconomic space. They go for broke. They understand this, understand the optionality. They can believe in whole or in part. But even so, if the probability of making the right choice is 1%, the growth from here can be 100x, so this is exactly what you should do, ”he said..
Mike Novogratz, former Goldman Sachs partner and now CEO of Galaxy Digital, meanwhile, compared Bitcoin to Tesla, which has jumped from $ 430 to $ 650 since the start of the year, surpassing even the 30% rally in the first cryptocurrency. Novogratz claims that both Tesla and Bitcoin are revolutionary technologies that can change the world, so the formation of a speculative bubble around them is a completely natural phenomenon..
“Of course it’s a bubble. Tesla cars are amazing, he added. – Nevertheless, I like gold, I like bitcoin. Bitcoin had its bubble in 2017 and is now an asset. It is a weapon in investor portfolios. This is a variation of gold. We call it digital gold and we are building the infrastructure around the system so that more and more people can buy it, so it trades better and better. “.
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