Macro guru and former Goldman Sachs executive Raoul Pal says the stage is being set for the next wave of crypto adoption.
In a new interview, the Real Vision CEO unveils three massive catalysts that he believes will accelerate the growth of Bitcoin and the rest of the crypto markets.
“For sovereign states, particularly sovereign wealth funds, they will look for a long duration asset, which gives them some security, so it has a place, so we will see a further adoption for sovereign states of this, not necessarily as a currency, but as an asset. I think that’s very interesting. I think that’s the place of Bitcoin in the world as a kind of pristine collateral reserve asset.
We’ve got the sparks in place. The next thing we need is the inflation story to die, that would be a true accelerant, and growth to be falling and the central banks to be printing more money because it does very well. It drives adoption. It doesn’t just drive the price up like it does with equities and gold and real estate. It drives adoption which is why it always massively outperforms everything else in times of monetary largesse. You’re setting up for a perfect storm here.”
Pal says the current macroeconomic environment tells him that the chances of another sell-off event are slim. He also says that most market participants will likely be better off with a more long-term strategy as opposed to actively trading.
“I think it’s even cemented the macro backdrop even bigger. With a force that powerful, you shouldn’t be too cute with the asset. You basically should just buy and hold it and buy it when it sells off significant amounts because you know the risk-reward is so ridiculously skewed to the upside.”
I
Check Price Action
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
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/Jamori/Chuenmanuse
The post Bitcoin (BTC) and Crypto Setting Up for a Perfect Storm, According to Macro Guru Raoul Pal – Here’s Why appeared first on The Daily Hodl.