Bitcoin Is The Most Competitive Financial Asset On The Planet, Says Raoul Pal
The crypto market looks great today with the most important coins trading in the green.
Bitcoin is about the smash through $12k. At the moment of writing this article, the king coin is priced at $11,983.71.
Bitcoin, the most competitive financial asset on the planet
It’s been just revealed that Former Goldman Sachs Manager Raoul Pal says Bitcoin may be the most competitive financial asset on the planet.
Pal is currently the CEO of Global Macro Investor and Real Vision.
He said that the future of the US dollar is starting to look more and more uncertain and this looks great for BTC and gold.
“Is the dollar bull market now over? I’m not yet convinced but my final dollar spike view is clearly under immense pressure. I’ve essentially been long since 2013 but now the price action is becoming concerning for that view,” he said.
He said that gold is underperformed and Bitcoin has blown all competition.
“The idea is that gold and ancillary trades around it help protect us from massive printing of money,” he explained.
He continued and said that “In fact, only one asset has offset the growth of the G4 balance sheet. 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. Yup. Bitcoin (BTC).”
Check out more about what he had to say in the original article on The Daily Hodl.
Many of us own gold to offset the dilutive effects on fiat currency of the growth in major central bank’s balance sheets. However, the BS of the G4 has outpaced the rise in gold.. pic.twitter.com/Gt1lvqvOPl
— Raoul Pal (@RaoulGMI) August 6, 2020
Bitcoin gears up for a massive bull run
In other news, Bloomberg Intelligence senior commodity strategist Mike McGlone said that Bitcoin’s adoption among mainstream investors is on the rise.
He is expecting a favorable macroeconomic landscape to sustain a Bitcoin bull run that will “dust” the Nasdaq.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.