Former Goldman Sachs executive and current Real Vision CEO Raoul Pal says he’s making a bet on two groups of emerging crypto assets.
In a new interview with CryptoInsightUK, the widely-followed investor says that he’s been optimizing his portfolio based on where he thinks the crypto space is going.
[adinserter block="1"]Pal asserts that he thinks the metaverse is “where everything is going.” The metaverse can be loosely defined as a virtual shared space, created by the internet, augmented reality or other shared ecosystems. He’s also bullish on social tokens – coins backed by a brand, organization or an individual.
“I started layering into more macro bets on where I thought the space was going. So trying to be more intelligent than just a basket, I’ve still kept the basket, but my bets are moving towards the metaverse and social tokens, and community tokens, which I think are going to be a huge, huge disruptive business model, and I think the metaverse is where everything going. So that’s kind of how I’ve played it. Now, I’m roughly 25% Bitcoin, 55% Ethereum, and 20% in all the other stuff.”
Metaverse assets include non-fungible tokens (NFTs), virtual parcels of land and other digital collectibles.
While bullish on the crypto markets at large, Pal has previously said that the nascent space is at a crucial inflection point. According to him, Bitcoin’s current price action is mirroring the massive correction in 2013 right before BTC went on a parabolic 900% rally from $100 to $1,000.
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Featured Image: Shutterstock/PHOTOCREO Michal Bednarek
