- Raoul Pal, the CEO of Real Vision and a Wall Street veteran, thinks Bitcoin will be the top-performing asset of the next two years.
- He thinks that the asset could rally to $100,000 in the near future, even going as far as to mention the $1 million target.
Bitcoin Could Be the Best-Performing Asset of the Next Two Years
Raoul Pal, a former head of Goldman Sachs’ hedge fund sales, has been promoting Bitcoin heavily over the past few weeks as he’s begun to realize what future the asset has.
The Real Vision chief executive continued this trend on Monday, August 10th, when he shared the tweets seen below.
In these messages, the Wall Street veteran asserted that Bitcoin is likely to see great success in the ongoing macroeconomic environment. Pal went as far as to say that BTC will be the best-performing asset of the next two years by a major margin:
“These are all INCREDIBLY BULLISH long-term chart patterns. The probabilities in the charts suggest that Bitcoin is likely set to be the best performing major asset in the world over the next 24 months and by a big margin.”
These are all INCREDIBLY BULLISH long-term chart patterns. The probabilities in the charts suggest that Bitcoin is likely set to be the best performing major asset in the world over the next 24 months and by a big margin.
I remain #irresponsiblylongbitcoin #bitcoin $BTC
— Raoul Pal (@RaoulGMI) August 10, 2020
The investor’s latest comment about the leading cryptocurrency comes shortly after he noted that BTC is the only asset in the world that is outpacing the growth of the G4’s balance sheet. This suggests it is the asset best suited to combat the monetary inflation that is ongoing:
“In fact, only one asset has offset the growth of the G4 balance sheet. Its not stocks, not bonds, not commodities, not credit, not precious metals, not miners. Only one asset massively outperformed over almost any time horizon: Yup, Bitcoin.”
Pal did not mention a price target for Bitcoin during this Twitter thread. But, in previous tweets and interviews, the analyst has made his optimism about the cryptocurrency’s value clear.
In an April newsletter, the investor said that Bitcoin’s chat implies it could reach a price of $100,000 within the next two years and potentially $1 million in the next five years to a decade.
With Pal expecting a potential collapse in fiat currencies and portions of the financial system, these targets may not be as outlandish as they seem from the surface.
Not the Only One That Thinks So
Pal isn’t the only analyst expecting for Bitcoin to be the best performing asset moving forward, especially as macroeconomic conditions continue to favor a scarce and alternative money like BTC.
Robert Kiyosaki, the author of “Rich Dad Poor Dad,” said late last week:
“GOLD is up 35% in 2020. S&P only 3%. Silver is still the best, still 30% below all time high. Best because it is limited in quantity, used in industry and still affordable for those with tight budgets. The sleeper is Bitcoin. I suspect it is about to become the fastest horse.”
GOLD is up 35% in 2020. S&P only 3%. Silver is still the best, still 30% below all time high. Best because it is limited in quantity, used in industry and still affordable for those with tight budgets. The sleeper is Bitcoin. I suspect it is about to become the fastest horse.
— therealkiyosaki (@theRealKiyosaki) August 8, 2020
This comment is reminiscent of one made by Paul Tudor Jones, a billionaire hedge fund manager. Jones said in a May newsletter that he thinks Bitcoin will be the “fastest horse in the race” due to monetary policy conditions.
Featured Image from Shutterstock Price tags: xbtusd, btcusd, btcusdt Charts from TradingView.com Macro Investor: Bitcoin Will Be the Best Performing Asset Over Next 2 Years