Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Ex-Goldman Sachs Manager Says He’s ‘Irresponsibly Long’ on Bitcoin After Loading Up on Ethereum

by Daily Hodl Staff
August 8, 2020
in Bitcoin

Former Goldman Sachs Manager Raoul Pal says Bitcoin may be the most competitive financial asset on the planet.

Pal, who is now the CEO of Global Macro Investor and Real Vision, says the future of the US dollar looks increasingly uncertain, which he believes bodes well for both gold and BTC.

“Is the dollar bull market now over? I’m not yet convinced but my final dollar spike view is clearly under immense pressure. I’ve essentially been long since 2013 but now the price action is becoming concerning for that view.”

However, Pal says that when analyzing the balance sheets of the G4 central banks, it’s clear gold has actually underperformed – while Bitcoin has blown the competition out of the water.

“The idea is that gold and ancillary trades around it help protect us from massive printing of money. The problem is that the printing is so big that when you look at the G4 central bank balance sheet in gold terms, gold has still underperformed by 50%!

In fact, only one asset has offset the growth of the G4 balance sheet. Its not stocks, not bonds, not commodities, not credit, not precious metals, not miners. Only one asset massively outperformed over almost any time horizon. Yup. Bitcoin (BTC).”

Source: Raoul Pal/Twitter

Pal also says he recently bought Ethereum, after stating in July that he believed ETH appeared ready to begin a new bull run. Meanwhile, his confidence in Bitcoin is growing at such a level that Pal says he may end up concluding that other assets are not even worth investing in. 

“My conviction levels in bitcoin rise every day. I’m already irresponsibly long. I am now thinking it may not be even worth owning any other asset as a long-term asset allocation, but that’s a story for another day (I’m still thinking through this).”

Pal is a longtime Bitcoin bull and said back in May that BTC appeared to be trading inside a symmetrical triangle that could eventually bring the leading cryptocurrency to $1 million.

Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Peshkova

Submit a Press Release

Industry Announcements

  • Kingdom Quest Launches Token IDO on Poolz
    August 18, 2022
  • W3 Storage Lab Raises $3 Million in Pre-Seed Round
    August 18, 2022
  • Massive Online PFP NFTs Meetup in the Mega World
    August 18, 2022
  • DeFi Yield Protocol (DYP) Anticipates Metaverse Platform Launch With Listings on Coinbase, Huobi and MEXC
    August 17, 2022
  • Former Navy SEAL and Author Willard Chesney Joins CBS SEAL Team Actor Justin Melnick With NFT Collection Release on the ReserveBlock RBX Network, Proceeds To Benefit the Boot Campaign
    August 16, 2022
  • Oraichain Introduces Accelerator Program for DApps Building on Its AI Layer One Ecosystem
    August 15, 2022
  • DAM Finance Receives Strategic Investment From Arrington Capital Moonbeam Growth Fund
    August 11, 2022
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$21,432.74
$21,432.74
8.65%
Ethereum
$1,694.81
$1,694.81
8.96%
Cardano
$0.466968
$0.466968
13.14%
XRP
$0.338129
$0.338129
10.22%
Dogecoin
$0.069439
$0.069439
14.31%

Spotlight

  • Suspected Developer of Crypto Mixer Tornado Cash Arrested in Netherlands for Alleged Money Laundering
    August 12, 2022
  • Analyst Says Chainlink (LINK) and Low-Cap Ethereum Altcoin Set for Rallies – Here’s His Price Target
    August 15, 2022
  • North Korean Hackers Have Looted $1,000,000,000 From DeFi Protocols This Year: Chainalysis
    August 18, 2022
  • Former Goldman Sachs Executive Makes High Conviction Call for Crypto Bottom Amid Shifting Macro Backdrop
    August 14, 2022
Finance Magnates London Summit Banner
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2022 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2022 The Daily Hodl