- The CEO and founder of real vision, Raoul Pal is a big believer that bitcoin could reach a height of $476,000 in the long run.
- This humongous prediction is not the first of its kind as many other hedge fund managers such as Mark Yusko have made similar predictions in the past.
The CEO and founder of real vision, Raoul Pal is a big believer that bitcoin could reach a height of $476,000 in the long run. This humongous prediction is not the first of its kind as many other hedge fund managers such as Pal have made similar predictions in the past. One example is Mark Yusko of Morgan Creek digital who has previously said that the leading crypto coin could reach half $1 million.
Ever since Bitcoin experienced its third halving earlier this week, the price of the leading crypto coin has been just shy of $10,000 with many high-profile investors wanting it to spike, and fast.
Speaking on the ecosystem as a whole, Pal said:
If it becomes an ecosystem, and we believe it will be and it will take the whole ecosystem with it as well, then yes, I think a $10 trillion number is easily achievable within that process.
Traditional assets are something that many investors and institutions are well aware of but they want to look into the alternatives about what they can invest in. They want to store their wealth and the United States Federal reserve's harsh fiscal policy is a policy that raises concerns in regards to the future of the stock market in the United States.
As previously reported by CryptoDaily, Paul Tudor Jones, a well-known hedge fund manager in the United States, has said earlier this month that he is investing at least 1% of his portfolio in bitcoin as a hedge against inflation.
Whether bitcoin will ever be able to reach a height of $500,000 is yet to be seen. The odds of the flagship currency reaching such eyes are not in its favour but that isn’t to say that it isn’t impossible. It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!