“Gold investor will switch to Bitcoin,” said Raoul Pal, former European hedge fund manager and macro investor at Goldman Sachs, arguing that Bitcoin is getting stronger day by day against gold. said.
Raoul Pal, the famous economist, investor and CEO of Real Vision, made a sound comment for Bitcoin, which has achieved a 33 percent price increase since the beginning of the month, and stated that the gold investor could turn the rudder to Bitcoin in a short time.
The biggest crypto money in recent months; Outperforms gold, dollars, the US stock market and large tech companies. According to many experts, BTC, which is currently experiencing its early period and is gradually being seen as a value storage tool, has a serious increase potential in the coming periods.
Both profit and protection …
However, some institutions do not look at BTC in this way. According to them, the purpose of Bitcoin is simple… This is; to protect against inflation. These types of assets are not intended to generate money for institutions, but only protect portfolios and clearly act as insurance. However, with its unique structure, Bitcoin is both a protection and a means of making money (valuation).
Mainstream adaptation still early
The biggest reason why BTC is a protection against inflation, as everyone knows, its supply of 21 million. Even considering the BTCs that are lost and impossible to return, this supply has now decreased to 16-17 million … The largest crypto currency can see sharp rises as it is still experiencing its early period. Since mainstream adoption is still not fully established, it is very likely that Bitcoin will appreciate in terms of price in the coming period.
MicroStrategy opened the door
Before MicroStrategy, which bought huge amounts of Bitcoin in the summer, there were no big companies that followed such a policy. However, after the resounding move of MicroStrategy, they first purchased Bitcoin from Square and then Stone Ridge, whose market values are measured in billions of dollars.
“Bitcoin swallows everything like a black hole”
Looking at all these developments regarding Bitcoin, it is seen that the biggest cryptocurrency has caught serious momentum. Confident in this momentum, Pal also states that the gold investor is likely to switch to BTC:
“Bitcoin has turned into a black hole that absorbs and swallows everything around. You will hear these words a lot over the next 18 months. You see, bitcoin is getting stronger every day against gold. Gold investor will switch to BTC ”
Stating that BTC is outperforming most asset classes, Pal describes the recent performance of the largest cryptocurrency as a very dominant and all-encompassing performance.
“Makes it pointless to invest in another asset”
The successful investor stated that he did not see an asset like Bitcoin in his entire career:
“This performance of Bitcoin is so dominant and so overwhelming that it will make you forget and end the stories created for every asset. I have never seen any other investment tool in my career that makes investing in another asset completely pointless ”