The CEO of the Real Vision channel and cryptocurrency enthusiast Raoul Pal believes that the growth of the bitcoin exchange rate can attract the attention of more conservative investors to this asset.
Pal noted that bitcoin is usually treated as an asset for hedging risks, but now the first cryptocurrency also acts as an investment asset for making a profit. Due to its limited number, bitcoin is protected from inflation, and the developing infrastructure and interest from institutional clients gives a huge potential for the growth of BTC.
“Bitcoin is taking over the world. It has become a supermassive black hole that sucks in everything. And the number of mentions of bitcoin will only grow. You will see how gold will lose to bitcoin and investors in gold will switch to buying bitcoins, ” Pal said.
He also stressed that the current rise in the bitcoin exchange rate showed its “dominance”. The former hedge fund manager said that in his entire career as a trader, strategist and asset manager, he has not seen anything close to BTC:
“Bitcoin is growing at such a pace that it is pointless to talk about other assets. I have never seen such a good deal, now it makes almost no sense to keep other assets.”
Raul Pal expects that over the next five years, bitcoin will firmly win the title of the best investment asset and become “gold 2.0”. Recall that in early September, Pal called bitcoin “a truly priceless asset”.