Former Goldman Sachs executive Raoul Pal says that Solana (SOL) looks reminiscent of Ethereum (ETH) during its bear market of 2018 and 2019.
In a new interview, the Real Vision founder says that SOL, which is his second biggest crypto portfolio allocation, is most likely about to repeat Ethereum’s dramatic recovery from a bear market to new highs just years ago.
“It’s still my second largest holding. I really like it. It reminds me of ETH in 2018-2019. I think there’s a huge amount of activity. I think [Solana founder Anatoly Yakovenko] has proven himself to be one of the better leaders and thinkers in this space, kind of in the Vitalik [Buterin] mode. I think the developer activity is great. I think on-chain activity is great. The Innovation is great. So, there is a probabilistic outcome that it does well.Â
It doesn’t mean I’m right or wrong, but yes, I’m still very interested in Solana.”
According to Pal, crypto is part of the biggest macro setup in history as he believes the asset class will directly benefit from the rapid evolution of technology and the debasement of fiat currencies.
“I’ve seen what I think is the biggest macro setup of all time, which is the exponential age meets crypto meets quantitative easing. Those are so explosive and I think it repeats over the next few years, but I want to have all of my excess savings in that. Because it’s a once-in-a-lifetime opportunity to me.”
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