Raoul Pal said that Bitcoin provides investors with the very best chance of escaping the cycle of economic despair, according to the latest info coming from the online publication the Daily Hodl.
Founder and CEO of Real Vision Finance say that a lot of people in the middle class and the younger gen found themselves being frustrated and trapped in a low-income loop without having the chance to break out.
He also made sure to highlight the fact that the devaluation of the US dollar coupled with wage stagnation are the central factors leaving people impoverished, frustrated, and unable to grow their wealth.
“The wage issue is why really people are so PISSED. They feel poorer. They are poorer. They have more debt. They need more debt. It’s an endless loop,” he said.
He continued and said: “The average person can’t get in front of these massive secular waves or the falling value of the denominator (fiat currency). They can’t own enough investments to make up for the difference. It’s a poverty trap of the middle classes.”
Bitcoin is the only one that can rectify wealth inequality
Pal said that Bitcoin is the only thing on his radar that could rectify the wealth inequality, despite the volatility of the coin – he sees the trajectory going upwards.
“You could interpret BTC as a bubble. You could suggest is hasn’t reached its full price discovery as many adopt it as their life raft as Metcalfe’s Law kicks in. Either way, it dramatically offsets the wages/purchasing power/denominator issue. It is the only chance people have…” he said.
Pal continued and explained that “It is literally the only chance the median person has to change this dynamic, especially young people who are in huge competition for jobs with boomers and their own massive generation and with technology and workers around the world, struggling to survive too…”
Check out the complete article in order to learn what more he had to say.