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Why bitcoin is the only asset worth owning according to the Real Vision CEO

 
Why bitcoin is the only asset worth owning according to the Real Vision CEO
Breaking News / Bitcoin / BTCUSD
  • Raoul Pal says his conviction levels in the leading Cryptocurrency are on the rise.
  • Pal used to work for Goldman Sachs and applied the economic cycle theory in a variety of charts posted to Twitter early this week on the 6th of August. 

The chief executive officer and founder of Real Vision, Raoul Pal has recently discussed bitcoin and says his conviction levels in the leading Cryptocurrency are on the rise as he compares the leading coin to traditional investments on numerous timescales.

Pal used to work for Goldman Sachs and applied the economic cycle theory in a variety of charts posted to Twitter early this week on the 6th of August. He stated that even though many investors are looking towards gold as an alternative to Fiat currency, bitcoin has been the only asset in the world to offset the growth of the G4 balance sheet. For those that don’t know, the G4 refers to the Bank of England, the bank of Japan, the European Central bank and the Federal Reserve.

He further said:

“It’s not stocks, not bonds, not commodities, not credit, not precious metals, not miners. Only one asset massively outperformed over almost any time horizon: Bitcoin.”

He added:

“My conviction levels in Bitcoin rise every day. I’m already irresponsibly long. I am now thinking it may not be even worth owning any other asset as a long-term asset allocation, but that's a story for another day.”


It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!

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