This multimillionaire is sure that Bitcoin will explode the $ 250,000: he wants to convert all his fortune!
All in crypto or nothing – Bitcoin valued at $ 150,000 by November 2021? In any case, this is what Raoul Pal, a known investor in the cryptosphere, is planning. The latter announced his desire to sell his current assets (in gold) to buy more and more bitcoins and ethers.
A news that leaves you speechless
On his tweet published today, Raoul Pal specifies that he wanted to sell his gold reserves to buy 80% bitcoins and 20% ethers. The investor chose this distribution because bitcoin remains the current benchmark crypto – an „easy bet“ therefore , while ether seems likely to further appreciate according to him.
The amount invested would represent 98% of its capital . In addition, Pal justifies the surge in cryptocurrency prices by the presence of a large amount of institutional liquidity , which is currently circulating in the market.
Institutional investors increasingly fond of cryptos
In reality, the investor is firmly convinced that the value of bitcoin is no longer driven by individuals, but by institutional agents who have more liquidity. In recent weeks, the publications of institutional companies on Bitcoin Evolution have multiplied, which supports this thesis. Indeed, important new players, such as Square and PayPal , have entered this market.
Paypal Bitcoin BTC
Macroeconomic factors must also be considered, including the current health crisis. According to Raoul Pal, governments will have to inject liquidity for a faster economic recovery. This action could first lead to a devaluation of fiat currencies, which would push investors to turn to bitcoin as a safe haven . Then we could see a massive supply of financial markets, including cryptocurrency.